The Rise of Errors and Omission Claims against Brokers and why Brokers PI Premiums are Soaring

Anyone involved in or with an interest in General Insurance, whether working for an Insurer or Broker in Claims, Underwriting, Compliance, Sales and Marketing roles or with Loss Adjusters and other service providers

Broker Professional Indemnity premiums are in many cases doubling which reflect the fact that PI underwriters believe the possibility of claims against brokers has never been higher. This presentation will explore why the amount of Errors and Omission (E&O) claims against brokers are on the increase and how these can potentially be mitigated.

Various new pieces of legislation including the brokers duty under the Insurance Act 2015, GDPR and the Insurance Distribution Directive are making brokers more vulnerable than ever, which coupled with increased litigation in society, increased client expectations and ever higher regulatory demands mean that brokers cannot continue to do what they have always done, as far more proactivity is required.

Alan Chandler who is widely regarded as one of the leading trainers and presenters within the UK will provide a number of examples of how the tide of litigation is turning against insurance brokers and what they need to do to mitigate their E&O risks.

By the end of this session, delegates will be able to:

• Understand why broker E&O claims are increasing
• Understand how recent statutes are increasing the E&O risk
• Take positive action to mitigate these E&O risks

Alan has undertaken operational management roles in three major global companies - NatWest Insurance Services, RBS Insurance Group and Allianz Insurance. He has run underwriting, broking and claims functions. Eleven years ago he set up his own training company, something that he had always longed to do as he is passionate about training. Since then he has trained well over a thousand people to become ACII qualified including six individuals who have achieved the best ACII completion in the whole of the United Kingdom. He has also trained many national prize winners. Alan has delivered training for almost all of the Local Insurance Institutes in the UK over the past few years with his enthusiastic presenting style proving very popular. He is one of the few individuals who can teach at all levels of the CII examinations. He teaches almost all certificate, diploma and advanced diploma subjects and is one of the few people who can take someone from certificate all the way through to fully qualified ACII and his pass rates exceed 96%. Alan has presented across Europe on many technical subjects to companies including Allianz, Zurich, Aon, Marsh and Willis. He has been involved in the setting up of many diploma and advanced diploma programmes in both the UK and Ireland and is driven by a passion to see increased professionalism within the insurance industry.

To Take Part and obtain a copy of the link to the Webinar contact David Codling at david.codling@uk-claims-consulting.co.uk or 07772 483302.

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