QBE announces the addition of its Professional Indemnity Combined product to its e-trading platform, Fastflow. The product has been designed to meet the insurance needs of professional SMEs. The addition of Professional Combined complements the existing range of products available from QBE under Fastflow, notably Business Combined, Tradesman and Office.
The PI Combined insurance will offer up to 13 different coverage sections under one policy. Professional Indemnity will be the only mandatory section of the policy, but there will be the potential to add on buildings and contents, including business interruption, directors & officers liability, employers’ liability, public and product liability cover.
The product will be available to a wide group of 600 trades operating in both emerging and traditional business areas. These include: IT and media risks, estate agents and small accountancy practices. A comprehensive suite of wordings will be available, but will be tailored to each profession’s specific needs. A single policy wording covering all sections will be instantly delivered electronically. Premiums will start from as little as £125.
David Greaves, Head of SME, QBE European Operations, commented; “I am pleased that QBE is today able to extend its comprehensive SME e-trading offering into Professional Indemnity. Our discussions with brokers tell us that there is strong demand amongst clients for easy to understand, comprehensive products that cover their entire risk profile. By offering this product through our e-trading platform we are responding to this demand in a cost effective and efficient manner. We will continue to develop and refine our e-trading capability so that we can offer real scale and quality distribution channel for our brokers across the UK.”
