May 23, 2019

FIA Professional Indemnity Scheme - Broker Appointment

Article by FIA

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In terms of the FIA agreement, the broker appointment in respect of the FIA PI Scheme was put out to tender in March this year. We are pleased to announce that Marsh South Africa (Pty) Ltd has been appointed as the broker for the scheme members with effect from 1 June 2019.

On the eve of hardening (financial) market conditions and a litigious society driven by a threatening worldwide recession, FIA members more than ever before require the assistance of an insurance broker who is able to navigate the often complex and somewhat taxing professional indemnity claims environment. Marsh offer FIA members an industry-leading product, backed by a technologically advanced risk carrier – Leppard and Associates. Marsh also have a proven track record when presenting members’ petitions when contentious claims arise and they successfully managed to retain more than 75% of scheme following the transition to PIFRS.
 
Exclusive to FIA members, Leppard & Associates (Pty) Ltd has agreed to increase the current Directors and Officers Liability limit from R1 Million to R2,5 Million, across the board at no additional premium subject to terms and conditions. Furthermore, Marsh is able to offer cyber risk insurance to members which participate in the scheme. 

Please see the attached company profile for more information on Marsh South Africa (Pty) Ltd. 
 
Should you have any queries, please contact Janine Davis at Janine.davis@marsh.com or Justin Keevy at justin.keevy@marsh.com for assistance.
Thank you for your ongoing support of the FIA PI Scheme.

Many thanks & regards,

Lizelle van der Merwe
CEO 

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