PI Combined

PI Combined

Professional Indemnity Combined provides

flexible insurance solutions for UK domiciled

Sole Traders, Partnerships and Limited entities

in respect of civil liability for damages and

claimant’s costs and expenses incurred in

connection with the conduct of the Insured’s

Professional Business.

We cover a wide range of professions including:

Accountants, Complementary Therapy &

Training Professionals, Engineers, General

Consultants & Business Service Consultants,

Media Professionals, Surveyors and

Technology Consultants.

The following additional covers

are available to add on to the

product:

• Directors and Officers (RSA’s full D&O

wording – not stripped back in cover)

• Corporate Legal Liability (£100k free

with D&O)

• Employment Practice Liability (£100k

free with D&O)

• Public/Products Liability

• Employers Liability

• Offices

Referrals

Some risks and cover requirements may

need further discussion with an RSA

underwriter. This can be done through the

online product using the “Refer to

Underwriter” button.

You can contact the team using the

following:

☎ 03300 100 6560

📧 sme.extranet@uk.rsagroup.com

You can access this cover through the

following channels:

RSA Online

Acturis

PI Combined

PI Combined Claims Examples

IT Professional Insured received an email from a major IT company advising that they had been contacted by solicitors alleging that the insured had infringed their client's intellectual property rights by selling an app which was essentially the same as one developed by the solicitors client and seeking damages of over £100,000. Insured removed app from sale and claim has not been further pursued.

Estate Agent Insured acted as estate agents in the sale of an old residential property in the South of England. The claimants sought the advice of our insured when purchasing the property and viewed the house before submitting an offer. A condition of the sale was the payment of a non-refundable deposit of £10,000. The claimants paid this, but subsequently withdrew from the purchase stating that they became aware through internet searches that the property was haunted. They claimed that the insured were aware of this fact and failed to disclose this to them during the viewing. As the claimants had withdrawn from the purchase, the sellers of the property refused to refund the £10,000 deposit. The claimants sought recovery from the insured but the claim was rejected, as the insured were unaware of the 'fact' that the property was haunted. Furthermore, the insured and the sellers of the property disputed the claimant's allegation that the property was haunted.

PI Combined

PI Combined Common Declines and Referrals

Declines Trades: Architects, Design and Construct, Solicitors, IFA, Insurance

Intermediaries, Motor Traders, Medical & Pharmaceutical Design & Construct Percentage turnover from EU/Rest of World/USA/Canada Previously declared bankrupt, insolvent, liquidation or CCJs Charity

Referrals • Financial Stability • Personal Tax Work % • Non UK Income

PI Combined

Sweet Spots

Business Consultancy

Accountancy

Training Consultancy

Property Letting

Quantity Surveyors

Estate Agents

Recruitment Consultants

Property Management

Marketing Consultants

Health & Safety Consultants

RSA Online Maximum Turnover

Open Market Deal

Complementary Therapists £500,000 £750,000

Surveyor £1,500,000 £1,500,000

Media/Technology Consultant £2,500,000 £3,500,000

General Consultant/ Business Service £2,000,000 £2,000,000

Engineer £1,500,000 £1,500,000

Accountant £1,000,000 £1,500,000

PI Combined Turnover Limits and Maximum Levels of Cover

PI Combined

Maximum Limits

PI £5 million

PL £5 million

EL £10 million (standard)

Legal Expenses (DAS) £250,000 (Free)

Buildings £500,000

Contents £100,000

Computers £20,000

BI £1 million or ICOW £500k

D&O, CLL and EPL £2 million

These limits vary on Acturis

PI Combined Where we are winning…

Examples of Strike Rate by Trades

Travel Agency: 27%

Management Consultants: 23%

Accountants: 19%

Surveyor: 18%

PI Combined

Eligibility Rate

RSA Online: 95%

Acturis: 36% (we can see this is impacted by

many decline trades that are quoted by

brokers who do not know RSA appetite)

Average Premium

£720

Since the PI relaunch:

831 brokers have quoted

313 brokers have taken out a PI Combined

policy

PI Combined 2019 Big Wins

PI Combined

• Broker A Engineer - Turnover £450,000

Premium - £10,000

• Broker B

Surveyor - Turnover £1.2 million

Premium - £7,400

• Broker C Quantity Surveyor - Turnover £400,000

Premium - £6,500

• Broker D IT Consultancy - Turnover £2 million

Premium - £3,300

• Broker E

Business Consultancy - Turnover £1.8 million

Premium - £3,000

• Broker F IT Consultancy– Turnover £1.8 million

Premium - £5,600

Largest Premiums Largest Turnover

PI Combined on RSA Online

RSA Online’s PI Combined is unique in the fact it lets you select which

profession the business most closely associates with, rather than

selecting from a large list of trades.

Choose from one of the following 6 trades to find

out more detailed information around our appetite in

these sectors:

• Accountant

• General Consultant/Business Services

• Engineer

• Complementary Therapy & Training

• IT and Media Professionals

• Surveyor

There is also an option to add in the Insureds specific

business description to appear on the documents.

Without the need for referral.

PI Combined - Why RSA

• Ability to Cross-sell on a single policy on RSAOnline You can easily add RSA’s full D&O cover, Plus a number of other modular covers. All on one policy

• Experian Integration

You can input the company registration number and the system pre-populates company details such as the company name and registered address

• Our excellent Claims Service Market leading claims managed by our in-house team

• RSA’s team of dedicated eTrade ProFin Underwriters

Contactable via web chat, email or phone

• RSAOnline has been updated and has an improved look and flow New features such as integrated look-up, quote notes and single quote versioning all offer an even better broker journey

PI Combined

Contacts

The Underwriting Team

Yong Chun Pak

eTrade ProFin Underwriter

Jonathan Kiernan

eTrade ProFin Underwriter

Matthew Wallace

eTrade ProFin Underwriter

You can contact the underwriting team

using the following:

☎ 03300 100 6560

📧 sme.extranet@uk.rsagroup.com