NACFB Insurance Services

 

The NACFB has long since utilised it’s bulk-buying power to negotiate preferential rates with the Association’s insurance services partner, Towergate. 

Towergate offer NACFB Members a 25% reduction from the standard Professional Indemnity insurance rate with a 0% direct debit facility.

Why use Towergate for Professional Indemnity?

Professional indemnity insurance is a specialist insurance and it is important to find a provider that specialises in this field. A specialist broker will know the right insurers to approach rather than flooding the market which can have a negative impact on how a business is viewed by the insurance market. They will also know how to correctly present the business with a view to getting the right cover at the right price. Towergate are committed to ensuring the NACFB get the right cover at competitive rates and review this annually.

The sole reason for buying any insurance is to ensure that claims are paid if and when they arise.

If an NACFB Member faces a claim for professional negligence it can be a time consuming, expensive and confusing process, and the relationship between the member and broker is integral to getting the claim dealt with efficiently.

  • Towergate can give advice and also explain clearly what is and what is not covered. Towergate acts for the member and has a legal duty of care in the advice and products provided.
  • Towergate will use their expert knowledge to highlight areas of cover that may not have been considered.
  • Towergate can ensure that you are not paying for more cover than you require and ensure you receive excellent service.
  • In the event of a claim, Towergate can act on the businesses’ behalf to achieve settlement.

In-House claims handling

Towergate do not contract out our claims handling service, but choose to provide this service in house employing our own trained staff. As such Towergate provide expert advice and support to clients on claims and/or notifications under their professional indemnity policies in a managed and professional manner. Towergate claims team are experienced in providing expert advice and knowledge on large, complex claims but also efficient and effective handling of small claims for clients.

Dedicated account executives

Your account executive is your point of contact for all matters relating to your professional indemnity cover. In all cases they are experienced professionals capable of handling all matters relating to cover, providing professional and efficient advice. They work in-house and in conjunction with our claims team ensuring all clients get an affective and seamless response to all enquiries.

Contracts/appointments advice

Towergate’s technical support team provides advice and guidance for clients on contracts and appointments related to Professional Indemnity cover, providing important support to customers in avoiding unreasonable and onerous contract terms. We are committed to providing fast and efficient turnaround of all requests. We aim to offer alternative solutions to issues which are proving difficult to remove from the contract, to ensure that in case of a claim, the policy will respond. We take this proactive approach to find solutions for our clients for no additional charge.

Policy wordings advice

We advise clients on appropriate policy wordings which can be during negotiation and inception, as well as following the notification of claims.

PI cover is an essential part of any modern finance professional’s business, even if you are confident that you’re doing everything right, you could still be exposed to whatever mis-selling scandal is set to follow on from PPI.

Find out how you can save money on your PI cover by calling us today on 020 7101 0359 or by emailing admin@nacfb.org.uk