Members in Business
Professional Services
Professional Indemnity Insurance (PII)
Consultation with Institute members and various providers of PII schemes reveals that people require PII for very different reasons, and this affects what they would want from a scheme. There is no single scheme that would be appropriate for everyone. The Institute has therefore decided to list a number of different providers, who are able to offer a range of PII cover and who are willing to offer a preferential service to our members. At present we do not have a sufficiently large level of interest in PII from our membership to set-up any exclusive schemes of our own. This situation will be reassessed at a later date. The insurance brokers listed are aware that:
- The Institute of Physics is a world-class learned society and professional body, bound by Royal Charter, representing physics & physicists;
- Members of the Institute are well-qualified professionals, who have satisfied the necessary criteria for membership;
- The Institute (and in particular, its Consultancy Group) supports and encourages those with an interest in consultancy;
- Physicists and other practising Institute members are involved in many different areas of consultancy.
The following contacts have been investigated by the Institute and are considered suitable for suggestion. The short-list has resulted from approaches made to about 50 different insurers and brokers. Please note, that this does not mean that the Institute is in any way endorsing or recommending the services of those companies listed, and members are not obliged to make enquiries to them alone. Please note also that members who enter into agreements with these companies do so by their own choice, and the Institute holds no liability or responsibility for any interactions. Feedback from those making enquiries and taking out policies for PII is always welcome, so that a more effective service for members can be achieved. Please contact us at business@iop.org.
NAME: Howden Insurance Brokers Ltd
ADDRESS: Bevis Marks House, Bevis Marks, London EC3A 7NE
TEL: 020 7623 3806
FAX: 020 7623 3807
E-MAIL: abowyer@howdenins.co.uk
WEB: www.howdeninsurancebrokers.co.uk
CONTACT: Andrew Bowyer
WHAT THEY SAY: "Howden Insurance Brokers is the largest specialist broker of its kind in the UK. The broking arm of the Hyperion Insurance Group, Howden Insurance Brokers has a first rate reputation worldwide as a market leader in its specialist areas. This reputation is built on an uncompromising philosophy of focus, expertise and service. Benefits of our service include:
- Competitive premiums. Premiums start from as little as £500 plus insurance tax.
- A range of instalment options for direct debit premium payments.
- Immediate cover available from £250k up to £10m.
- Low excess of £500 per claim available.
- Risk Management and Collateral Warranty Vetting service.
- Legal advice from the Howden appointed solicitors on other business matters."
NAME: Marsh (UK) Ltd
ADDRESS: Orchard Brae House, 30 Queensferry Rd, EdinburghEH4 2HS
TEL: 0131 311 4200
FAX: 0131 311 4280
E-MAIL: paul.a.stevens@marsh.com
WEB: www.marsh.com
CONTACT: Paul Stevens
WHAT THEY SAY: "Marsh UK is well experienced in providing PII for Engineers of all disciplines. The firm is currently endorsed by many of the major engineering institutions: The Institution of Chemical Engineers, The Institution of Civil Engineers, The Institution of Electrical Engineers, The Institution of Mechanical Engineers, The Institution of Mechanical Incorporated Engineers, & The Institution of Electronics and Electrical Incorporated Engineers. We also deal with a whole host of other professionals, ranging from architects and designers through to solicitors. In addition to arranging PII, we can provide Public Liability and other more standard insurance contracts. Concentrating on PII, we can give advice on contractural matters and Collateral Warranties are often referred to us, in conjunction with solicitors, to ensure that professionals are not agreeing to unduly onerous conditions and therefore invalidating their insurance coverage. With offices in London and throughout the UK, Marsh UK can provide first class local service and claims handling support. Here in Edinburgh we have a team of 18 people working full-time on PII and therefore we have a vast experience on which you can readily call."
NAME: Icon Insurance
ADDRESS: 148 King Street, London W6 0QU
TEL: 020 8741 8361
FAX: 020 8741 3988
E-MAIL: djackson@icon-insurance.com
WEB: www.icon-insurance.com
CONTACT: Dan Jackson
WHAT THEY SAY: "Icon Insurance are the UK's leading specialist in providing insurance packages for those who work from home, or run small businesses. A number of policies are available, including home business insurance, liability cover and professional indemnity, at premiums which start from as little as £130 per annum. We are pleased to advise that members of the Institute of Physics will receive a £15 discount off any Icon Insurance policy they buy."
September 2003 Update - Please note that, until further notice, Griffiths & Armour is unable to provide PII cover to members of the Institute of Physics working in physics and engineering-related areas. This is a consequence of the continuing difficult conditions in the insurance market. The G&A entry has therefore been withdrawn from the PII provider listing on this page.