Professional Indemnity Insurance for Brokers

With over 25 years’ experience in the Insurance Broker Professional Indemnity market we uniquely positioned to support our fellow insurance brokers.

Our Insurance Broker book been developed over the years into a secure and profitable book of business for our insurer partners, enabling us to offer competitive premiums with civil liability wordings.

If your client claims against you for an alleged error in your advice, failure to act on instruction, or problems with your recommendations, having the right insurance protection in place is essential.

In accordance with Chapter 3 of the MIPRU You should have:

  • continuous cover since the start of your firm’s authorisation with a minimum limit of indemnity of
    • 1) for a single claim, €1,300,380; and (2) in aggregate, the higher of: (a) €1,924,560; and (b) an amount equivalent to 10% of annual income (this amount being subject to a maximum of £30 million).
  • a policy excess (retention) that is no higher than the minimum level specified
    • For a firm which does not hold client money or other client assets, the excess must not be more than the higher of: (1) £2,500; and (2) 1.5% of annual income.
    • For a firm which holds client money or other client assets, the excess must not be more than the higher of: (1) £5,000; and (2) 3% of annual income.
  • cover in respect of Financial Ombudsman Service awards made against the firm




UK-based expert support, online and on the phone.


Insurance Brokers use our facility whether they are an AR, Indepedent or National brokers.


Compliant quotations can be obtained by completing our proposal form, which has been tailored to the specialist activities and advice of the broking profession.

Why MFL?

We are a specialist insurance broker with a wealth of knowledge to the Insurance Profession.
We are independent, meaning we have the flexibility to design our services around you, and access the insurer markets we need to deliver competitive insurance regardless of the size of your practice.
Competitive quotations from our insurer partners.
You will have a dedicated team of brokers looking after you, with a support team on hand to deal with any claims and risk management issues you have.
Regular blogs and bulletins which provide updates on market conditions, risk management, claims examples, etc.

Insurance Broker FAQs

How much Insurance Broker Professional Indemnity do I need?

Firms subject to the Insurance Mediation Directive need to have a specified minimum level of cover.

These are: €1,300,380 for a single claim and €1,924,560 in the aggregate.

Whilst these are the minimum requirements, you should really analyse your book of business to access the size of the risk and purchase the coverage you need or can afford. In exactly the same way as you would advise your clients.

What other insurance does an broker need?

The other insurance you need will be based on your circumstances.

  • Looking to close your business, then you may need Run Off Cover.
  • Does the Limit of indemnity need to increase, then you need Excess Layer Insurance.
  • Do you need to cover past works, then we can work with you to put a Retroactive Date on your PI Cover
  • If you have employees, you will need Employers Liability Insurance.
  • Do you have equipment that needs protecting? Then an Office Insurance policy can provide cover for your furniture, IT equipment, technical surveying equipment
  • If you don’t want to be personally liable for as a Director, a Directors’ and Officers’ insurance policy covers your defence costs and any compensation you have to pay.


Contact our friendly team today to discuss your insurance needs. Whether you call us for a chat or drop us an email. We will aim to respond within 24 working hours.

We look forward to helping you find what you’re looking for.

Opening hours
Monday to Friday 09:00 to 17:00

Barlow House
Minshull Street
M1 3DZ

Opening hours
Monday to Friday 09:00 to 17:00

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