Prime launches specialist IFA arm for PII
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Professional indemnity insurance broker Prime has launched a new division focused on the insurance needs of independent financial advisers.
Prime IFA Solutions will provide advice on risk management and professional indemnity insurance and claims it will be able to secure “preferential rates and exclusive offers” from insurers for IFAs.
Jamie Newell, who will head up the IFA arm, is joining Prime from NCG Professional Risks, where he was founder and managing director. He is a specialist in PI, directors and officers liability insurance and ancillary coverages.
Also joining the Prime IFA Solutions team is Andrew Paterson, who has over 25 years of experience in the industry. Prior to joining Prime, Paterson owned and ran PI Connect, a broker firm for accountants’ PII, which he sold to Hiscox in 2008.
Prime chief executive Tim Smyth says: “We are delighted to announce the formation of Prime IFA Solutions. We already work with a significant number of IFAs but, given the seismic changes in the financial world in the past few years, we believe the time is right to create a division dedicated to this unique market.
“We are very pleased to have people of Jamie and Andrew’s calibre joining us and I firmly believe that their combined expertise will ensure the success of Prime IFA Solutions.”
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