Professional Indemnity Insurance (PII) is required by all self-employed members. Employees should be covered by their firm.
The Professional Indemnity Insurance Regulations govern this requirement and members should familarise themselves with these.
A check on members' PII policies may be undertaken by the Association.
**The PII regulations and guidance are in the process of being reviewed but in the meantime the definition of member in practice has been updated see note available here. This definition will be applied from 1st April 2021 and if members have any queries regarding the requirements for PII following this change they should email the Professional Standards team standards [at] att.org.uk.**
Members should be aware that the ATT cannot recommend that members take out a particular PII scheme. However, the ATT has an arrangement with the following providers that, by virtue of their membership, any member will be provided with a quote for PII cover which is fully compliant with ATT's minimum terms and conditions.
TaxPro Insurance.com cover provided by Hiscox via Arthur J Gallagher Insurance Brokers who act as the brokers for them:
If a member’s fee income is less than £5000, a low cost PII policy (£5 per month) is available. TaxPro also provides protection for work done on a pro bono basis.
Neil Ramsdale 01245 326880
neil_ramsdale [at] ajg.com
taxadmin [at] ajg.com
Direct line - 01245 326880
Further details of the offer can be found here.
MFL Professional cover provided via Axa Insurance:
MFL is a specialist insurance broker to the tax and accountancy sector. This bespoke PII scheme caters for firms of all sizes, if a director, partner or any senior staff within the firm is a member of ATT, utilising experienced sector Underwriters.
MFL also provides insurance solutions in respect of:
- Office Insurance
- Directors' and Officers' Liability
- Cyber Insurance
- Crime Insurance
- Business Travel Insurance
- Manchester: Barlow House, Minshull Street, Manchester M1 3DZ: Gillian Elderkin 0161 233 4491
- Menston: Ashfield House, Windermere Avenue, Menston LS29 6NR: Mark Ramsbottom 01943 816866
- Leeds: Building 3, Leeds City West Busines Park, Gelderd Road, Leeds LS12 6LN: Mark Philmore 0113 323 1040
MFL Professional is a trading style of McParland Finn Ltd. McParland Finn Ltd is authorised and regulated by the Financial Conduct Authority.
By visiting the previous links, you are being taken to external websites over which we have no control and we are not responsible for the content or any advice given by these sites.