For over a decade API has been aware of the continued contraction of the insurance industry for Professional Indemnity insurance for its Members. Further consolidation is expected as the insurance cycle shows signs of firming.
API have decided to take action now and launch a new facility called “API ValCover” which is offered by API for the exclusive benefit of its Members.
API ValCover’s primary objective is to create a more stable insurance environment and importantly provide its Members with some degree of certainty regarding their Professional Indemnity insurance needs going forward.
Marsh (formerly JLT) is the appointed intermediary with Lloyds of London supporting the facility through highly respected underwriting agency Woodina Underwriting.
Both Marsh and Woodina Underwriting have been specifically chosen for their knowledge and commitment to the valuation industry supported with an exemplary claim service.
The introduction of API ValCover as a Member service is an exciting development within API and we urge Members to support the initiative.