FBAA announces NO Increase in PI Premiums

The Finance Brokers Association of Australia (FBAA) announced today that its Member Professional Indemnity Insurer has advised that given the latest audit there will be no increase in the premiums for PI cover this year.

Peter White, Chairman & National President and CEO of the FBAA said “the FBAA has enjoyed 13 years with its PI Provider Insurance Advisernet Australia Pty Ltd (IAA) and that the underwriter, Chubb Insurance Co of Aust Ltd, has agreed that there would be no premium increases this year. This is the 3rd year in a row that FBAA Members, whom have the exclusive PI Policy, have had no premium increases.

White said that IAA provides the best PI Policy that I’ve seen and not only meets the requirements under the NCCP as regulated by ASIC, but exceeds them. This is to ensure our members are as best protected as we can negotiate for them and the policy benefits are the best in the market. The personalised service our members get is unequalled in the industry.”

Darren Loades of IAA said “it has been a great relationship over many many years with the FBAA and we are glad to be able to continue the support of FBAA Brokers in this fashion, as business costs have increased with compliance so we feel we are doing our part in helping. It is also testament to the quality of brokers the FBAA has as members”.

White advised that this policy is only available for FBAA Members as an exclusive offering.

For Further Information Please Contact :-

Peter J White
Chairman of the Board of Directors, National President & CEO
Finance Brokers Association of Australia Ltd (FBAA)
(07) 3847 8119
president@fbaa.com.au

FBAA National Office – First Floor, 386 Logan Road
Stones Corner QLD 4120