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Objectives
The Association provides an alternative platform for the coverage of the professional indemnity risks of intermediaries and MGAs operating in London and international insurance markets. As an alternative, mutual carrier of such risks the Association aims to:
- Provide the Members with control over an important aspect of their business through the appropriate management of their professional indemnity risk;
- Secure the continuing availability and continuity of cover that meets the Membership’s requirements;
- Achieve stability in the cost of cover;
- Avoid the inherent conflict of interest in maintaining professional indemnity insurance in the same market in which the Members operate;
- Provide confidentiality in a sensitive area of business;
- Ensure that the relationship between the Members and the Griffin is based on a spirit of partnership and mutuality;
- Raise awareness of the Association as an alternative to the commercial market for the provision of professional indemnity cover, drawing attention to the particular benefits offered through membership, with a view to maximising opportunities for sustainable growth.