Axa teams up with Aon for IFA PI cover
Axa Commercial lines has partnered with Aon Risk Solutions to provide professional indemnity (PI) insurance for Independent Financial Advisers (IFA) in the UK.
The insurer has given Aon limited delegation of authority and the broker will bind and issue documentation.
According to Aon, its market research found that IFAs were frustrated by the length of time they spent filling in proposal forms, the limited number of options available to them for PI insurance and that the market will consolidate further with the impact from the Retail Distribution Review.
The broker claimed the new product, which will be distributed through a dedicated sales team and
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