Professions: Secondary Intermediaries

Since 2005, all businesses offering insurance policies complementary to the products and services that they provide, or assisting customers to make claims under those policies, have required authorisation by the Financial Services Authority (FSA).

These 'secondary intermediaries' include:

• Motor dealers and car hire firms.
• Opticians.
• Retailers of electrical appliances.
• Doctors, dentists and vets.
• Jewellers and antique dealers.
• Home removal and freight forwarding companies.
• Housing associations and property managers.
• Employers and trade unions who offer insurance to employees and members.
• Affinity groups, sports and social clubs and associations.
• Property associations.

The FSA regulations state that a secondary intermediary must have professional indemnity insurance to the value of €1 million, currently approximately £905,000 for a single claim and €1.5 million, currently approximately £1.4 million, in total.

At PI Direct, we specialise in providing competitive quotations to small and medium-sized firms.

We issue all quotations on a net basis and, because you can get a quote direct from us, there is no broker's commission or fee - meaning that your terms may be cheaper than would otherwise be the case.

Need a quote? Call us on 0800 294 8466 or