As part of a drive to avoid over dependence on Motor, KennCo has recently entered the Professional Indemnity market

Hi Margaret, long time no see. You’ve had a long and distinguished career in the Financial Lines sector of the business. Can you tell us a little more about what you are doing now?

Yes it’s good to be back on the PI/Financial Services side of the business. After many years in P.I. with Travelers, I spent some time in broking which I really enjoyed. It gave me the opportunity to experience the difficulties Brokers face day to day with how the Insurance market is evolving. I am now delighted to be heading up the PI / Financial Lines team at KennCo, developing a suite of new products for their Broker network which is really exciting.

That’s great news for Brokers. How did you come to select KennCo?

Well I’d met John Kennedy several times down through the years and we had discussed the opportunities in the Professional Indemnity market regularly. Then one day he approached me and asked me to consider heading up KennCo’s new Professional Indemnity Financial Lines Unit.

Being aware of the good reputation KennCo had built up as the largest MGA in the market and their commitment to only partnering with top rated insurers, it was an easy decision for me.

Yes, I note that KennCo only deals with the really big ‘A’ rated capacity providers. So tell us more about the insurers backing KennCo’s new Financial Products range.

As I said KennCo only partner with Insurers that share their vision which is a long and secure partnership at all times! That’s why at KennCo we only deal with ‘A’ rated Insurers. It is important to us that we can ensure our Brokers, who are at the coal face, that the capital providers are sound and secure. Therefore it is only natural that the new PI / Financial Lines products will continue to follow that mantra.

That’s great peace of mind for your brokers and their customers. So what’s the target market Margaret?

We have a whole host of Professions that we cater for, from the Construction Industry (Architects, Engineers, Surveyor’s, Valuer’s, Estate Agents and Auctioneers) to the Financial Services particularly Insurance Brokers / Retail Intermediaries which your readers will be delighted to hear!

We have an appetite for Architects, Engineers, Surveyors, Valuer’s, Estate Agents, Auctioneers, Design and Construct risks plus miscellaneous professions where the list is endless. Our policies are compliant with any of the Professional Associations / Regulation that are in place which is really important. Once again KennCo ticks all the boxes!

We have a whole host of Professions that we cater for, from the Construction Industry (Architects, Engineers, Surveyor’s, Valuer’s, Estate Agents and Auctioneers) to the Financial Services particularly Insurance Brokers / Retail Intermediaries which your readers will be delighted to hear!

KennCo only partner with Insurers that share their vision which is a long and secure partnership at all times! That’s why at KennCo we only deal with ‘A’ rated Insurers.

Well that’s very interesting indeed, especially the fact that you’re offering such quality products for all brokers, general and life. No doubt all brokers are keenly aware of the need to place business with secure, rated insurers particularly when it comes to their own cover! Is there anything specific in the broker P.I. product that makes it stand out?

It has become very confusing with the level of cover required under the various intermediary authorisations within the Central Bank, particularly in relation to ‘ring fencing’ and the ‘any one claim rule’. We can discuss the necessary requirements with your members to ensure they purchase the right policy that meets these requirements. The KennCo policy satisfies the requirements of the Central Bank and at competitive premiums.

To simplify the process we are happy to provide quotations on the existing proposal form completed and our turnaround times as with all our KennCo products is within 48 hours. Just give me a call or email me on 01 4991633 / mbrennan@kennco.ie.

So with these markets secured, how has the business been going so far?

We have been delighted so far with the take up and just recently completed a series of nationwide roadshows. We are able to offer those Brokers supporting us on the PI/ Financial Lines Products rewards on our motor, home and commercial products so it’s a win-win for all. PI/Financial Lines can be daunting for some Brokers and we are happy to ‘hold their hand’ in assisting them in driving this area of the business within their brokerages, so do get in touch. KennCo remains dedicated to providing its best prices and products for the broker market.

So along with Professional Indemnity, what other products are you developing for brokers?

Well we are so excited we have just launched a facility for Medical Malpractice and Cyber again with an ‘A’ rated Insurer. The risk appetite is vast in relation to the Medical Malpractice from Complimentary Medical Practitioners to Registered Medical Practitioners. Plus Supplementary Medical Practitioners which includes Beauticians, Dieticians and Nutritionists. The list is endless and we are happy to take enquiries immediately.

Brokers need products like these in order to keep pace with the modern business trends and to take away a dependence on motor insurance. My plans at KennCo will include observing these trends and proactively designing offerings to meet the needs of Broker clients … we are only getting started!

Well there’s no doubt KennCo has really added to its arsenal of products and of course skilled personnel! It’s good news for the Broker market and a very welcome development particularly these days. Let’s hope all brokers give you the support you deserve.