Hiscox unveils new commercial products at BIBA conference

14th May 2012
  • new professional indemnity products designed for emerging and growing professions available from 9th July

London, UK (14 May, 2012) – Specialist insurer Hiscox is unveiling a new set of broker-exclusive commercial products at this year’s BIBA conference. Five new professional indemnity (PI) products will be available from early July, designed for emerging and growing professions including interior designers and ‘green’ consultants.

As well as the new products, existing PI wordings will be enhanced to recognise the broader impact that a claim can have on a business. For example, with reputations at stake, crisis containment cover, which provides the services of a crisis management public relations firm, is now included at no additional cost. Court attendance costs have also been added recognising the expenses incurred if an insured or a member of staff has to attend court hearings in defence of a claim.

Hiscox is also planning to launch a single contract PI policy for consultants. The policy, available for periods of three, six, or nine months, recognises that some consultants might only want PI cover for the specific length of a contract. It also offers extended protection for up to 12 months after the expiry of the policy.

In addition, Hiscox has announced a range of enhancements to its broker service including an update to its broker centre website, helping brokers to find the Hiscox information they need (available now at www.hiscoxbroker.co.uk) and the development of an electronic proposal form for all of its core products (available from 9th July).

Samantha Newman, Head of Emerging Professional Indemnity at Hiscox, comments: “We have always worked hard to stay ahead of the pack with our professional indemnity products. The rise of new and growing professions in areas like green consultancy is particularly exciting and we are responding by designing professional indemnity cover that matches the very particular risks that professions like these face, which we believe will make it easier for brokers to sell to these clients. For other non-traditional professions, we are also continuing to evolve our professional indemnity protection with the addition of cover such as crisis containment and court attendance costs.”

Hiscox’s new professional indemnity products have been launched for consultants/businesses working in:
• Interior/garden design
• Green consultancy
• Training, coaching and education
• Facilities management
• Health and safety.

Attendees at this year’s BIBA 2012 conference in Manchester on May 16-17 are very welcome to visit Hiscox’s stand at B10 – it will be easy to spot: it’s the one with the red grand piano floating overhead.

Ends

For further information please contact:
                            
Abi Clark

+44 207 448 6470
[email protected]

Johanna Boland 

+44 207 448 6494
 [email protected]

About Hiscox

 

 

 

 

Hiscox, the international specialist insurer, is headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London Market underwrites internationally traded business in the London Market - generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd's. Hiscox UK and Hiscox Europe offer a range of specialist insurance for professionals and business customers, as well as high net worth individuals. Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance Company Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and Hiscox Syndicates Limited are authorised and regulated by the Financial Services Authority.

For further information, visit www.hiscox.com.


All press releases