The National Association of Commercial Finance Brokers (NACFB) reported that 67% of member firms are now protected by professional indemnity (PI) cover through the NACFB Mutual.
The mutual was initially established in order to address the rising cost of PI premiums for NACFB member firms, offering savings of up to 30% compared with other providers.
Norman Chambers, managing director of the NACFB, said: “We have fine-tuned our approach to cater specifically to those operating in both the property-led spaces and the business and asset finance led arenas.
“This refinement not only ensures tailored coverage but also demonstrates our commitment to understanding and meeting the unique needs of all policyholders.”
