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TMO offering PI deal with excess set at just £500

The Mortgage Operation is offering professional indemnity insurance to its members through a link-up with WB Baxter.

The PI cover is available to mortgage intermediaries, firms and individuals and has a low policy excess of £500. The rates are based on mortgage-related income and the policy is provided by Lloyd&#39s underwriters.

TMO has also set up online facilities for getting quotations, illustrations and application forms.

Managing director Mark Charlesworth says: “It is an essential requirement that all mortgage professionals who advise or offer services to clients take out an appropriate level of PI cover to guard against claims against them. We are delighted to be able to offer our members such great rates, especially in view of the general rise in PI rates over the past year.”

WB Baxter director Stephen Saunders says: “The MCCB-compliant PI facility which we have worked on with TMO is, I believe, the best in the market at this time.”

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