We’ve been working with PIB Insurance Brokers (PIB) to negotiate an alternative director’s and officer’s (D&O) insurance offer at preferential rates for all members of the NHF.
Since we had to take the difficult decision to no longer offer D&O insurance as part of NHF membership, we know a number of our members have found it difficult to procure vital D&O insurance for their organisations at the right level and cost, and have felt a significant financial and operational impact.
PIB have investigated the marketplace and members’ needs, and have come up with a tailored offer for the sector, tiered to provide the right cover and price for all sizes of housing association. The offer is potentially 10-25% cheaper than current market rates for D&O insurance, based on 40 housing associations PIB already insure, and members will get an extra 20% discount on PIB’s broker commission.
The NHF will not benefit financially from this offer. While PIB is a trusted NHF partner who own Thistle Insurance Services, providing our existing My Home Contents Insurance product for our membership, we have no commercial relationship with PIB on D&O cover.
D&O insurance would be offered across three membership tiers based on turnover, and the products and insurers have been carefully planned and selected. While there are three tiers, PIB can work with members whose turnover may be just under or over the tier threshold to make sure they get an appropriate product.
In a volatile market where cover can be changed or withdrawn at short notice, we know reliability and assurance is really important. PIB will be working with four different insurers (AIG, Aviva, AXA or Dual) to increase your options if one insurer changes its approach. They will also offer advice and expertise on the complexities of D&O insurance to make sure you have the level of cover you need for your organisation.
To get a quote tailored to your organisation’s needs, complete PIB’s online form, or call them on 01422 398690 to discuss the insurance cover you need and get advice about the options available to you.