Re: Re: Professional Indemnity Insurance
Do I have to go through an Irish broker or is it possible to get cover directly from a uk based insurance co./broker?[/QUOTE”]
Sorry for delay EA, I’m been basking in the balmy torrential rain and cooled by the gales in the Kingdom.
There is nothing to prevent you from either going â€œdirectâ€ to an insurer here or in the UK or doing so via an Irish or UK based broker.
In Ireland brokers are controlled/regulated by the Irish Financial Services Regulatory Authority (IFSRA) and in the UK by FSA. To operate in Ireland a UK broker should have the appropriate approvals and vice-a-versa. It is the same for insurance companies. If you obtain a policy through a UK broker unapproved in Ireland or from a UK insurer who does not have a licence to operate in Ireland you could have a problem in the event of a claim. The IFSRA site details those licensed and the classes of business permitted.
In your position I would first try a direct insurer â€“ e.g. Quinn Direct, obtain a quote to have a benchmark and then get a broker to obtain rates for you from the market.
I do not need PI meself, nor do I have any ties with any names mentioned.