Our 2 Directors have over 70 years’ experience arranging and Underwriting Insurance Brokers Professional Indemnity Insurance between them.
With many brokers having to having been forced to change insurer once, twice or even more in recent years as insurers have come in and out of the market from “hard” to “soft” and “hard” again we work hard to ensure that we offer cover from an Insure who is not only competitive but consistent, fair and unlikely to retrench as quickly as they enter the market.
Using A- rated security at worst it is also our aim to ensure our policies do not rely on ‘technicalities’ (such as breach of a term unconnected to the loss) to enable Insurers to avoid liability.
From time to time, there may be a question mark about whether a Brokers policy covers the loss they have sustained and that can become a risky period for the Broker. If a policy does not cover a loss your client has sustained, your own PI insurance may be on the line so it’s important to use a Broker with experience and the ability to advise you not only when buying cover, but also to be there holding your hand in the event of a potential claim.
Frequently, a claim against an insurance broker is based on one or more of the following errors:-
Insurance can be complex, with policy wordings/clauses appearing to mean “the same” when ultimately they can have very different meanings – For instance, to most a wording that reads “arising out of” v a wording reading “caused by” appear as the same meaning but have a very different meaning in the eyes of the courts who consider that “arising out of” is a significantly wider statement.
Helpful Downloads: FCA – For all firms that hold/need PII
Professional Liability Brokers Ltd is a company registered in England & Wales, Company Reg. Number 09847323. An appointed representative of Ten Insurance Services Ltd which is authorised and regulated by the Financial Conduct Authority
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Exposed RDP and other remote desktop software are the most common ways ransomware and other attacks are started. For accessing your systems remotely, these remote access tools need to be hidden behind a VPN, and so not exposing them directly to the Internet (and to threat actors).
Critical security patches include patches which address/fix vulnerabilities which could lead to a material detrimental impact if exploited, i.e., critical vulnerabilities. Often critical security patches will be flagged as important/critical by software providers, and will carry a CVSS score of 9 or above (see Help Sheet in Documents pack for CVSS score explanation). It is particularly important you patch any remote desk top (RDP) software you use.
You should not publicly expose to the Internet EoL software or services running on EoL Operating Systems, as those vulnerable services will be very visible to potential attackers.
Email security gateways reduce email threats like spam, viruses, and phishing attacks by filtering potentially malicious messages, stopping them from reaching employees in the first place. Attackers also deliver malware through these commonly used malicious attachment types: .HTA, .ocm, .lsm, .exe, .PS1, .VBS, .js, .zip, .lnk, .iso, .one
Endpoints include both servers and users’ workstations. Workstations can include desktops, laptops, tablets etc. which are used to access your IT network or applications (whether cloud hosted or on-premises). Employees own devices and external consultants devices’ should be included here if they are used to access the organisation’s services (e.g., BYOD “Bring Your Own Device”).
Training should be performed at least within the first three months for new users, ideally sooner, and then regularity of training depends on the number of users and size of network/data, e.g., if lots of users and/or large network then ideally regularity would be at least twice per year. If small network and small data set, then at least annually is fine.
MFA uses a second piece of information to authenticate access, so more than just a password. Passwords alone no longer provide enough security, especially for services accessible from the Internet (e.g., Microsoft 365, Google Workspace, etc).
Regularity of back-ups being taken and being tested depends on the size of back-up and how frequently the critical data is updating/changing – e.g., if there are large quantities of critical data and the critical data is changing daily, then daily back-ups should be considered, and back-ups tested at least every month/few months.
If you are a new start up, please provide your estimated Gross Turnover for the first 12 months of trading
Please provide the primary registered internet domain name used to market business, provide information about the business or operate the business. Please ensure this does not include any prefix/subdomain, and that it is purely the root domain (i.e. the domain name plus top-level domains).
E.g. plb.insure, or , google.co.uk as examples.
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