Firms that have bought one of three compliance packages will be able to access the discount for insurance arranged by Howden’s PII team. The packages include a core package, lite package or extra lite package.
TMA Club offers bespoke compliance packages that are tailored to individual business needs, which includes file checking, compliant visits, complaint handling, online training, financial promotion and recruitment support.
Howden is one of the foremost brokers in the PII space and has a facility for financial advisers that is underwritten by six insurers.
The facility is led by Aviva, and by having various insurers, removes the reliance on one insurer’s appetite, so members are not in a difficult position if one insurer decided to withdraw.
The size of the discount was not disclosed.
Lisa Martin, development director at TMA Club, said: “Many advisers experience difficulties when renewing their PII policies, and the process can often be costly. As a result, we are delighted to be working with Howden to assist in the protection of your business in a simple and cost-effective way.
“At TMA Club, we know that businesses must be resilient enough to weather all kinds of challenges, which is why we tailor-make our compliance packages to meet every one of your business’s needs in this area.”
Steve Ray, executive director at Howden, added: “We are incredibly pleased to be partnering with TMA to offer competitive PII rates to its compliance members, playing our part in TMA’s mission, to build on our strong relationship with LSL, to support advisers to deliver thorough advice to their customers.
“This is just the latest demonstration of Howden’s commitment to providing brokers with quality insurance so that they can operate with the confidence that their businesses are protected.”
