API Launches New Professional Indemnity Insurance Product for Members
Welcome to a new era of insurance, a global first in its design.
Over many years, the professional indemnity insurance (PII) market has posed significant challenges for property valuer coverage, with our Members unable to access high levels of certainty in conditions, pricing and agreed exemptions in its required insurance
To address this, API and Howden Insurance Group (Howden) have developed a Professional Indemnity (PI) insurance product designed exclusively with our Members in mind. We celebrate this innovation in cross functional industry collaboration for accessible, affordable, and comprehensive coverage.
Introducing PropSec
The first of its kind globally, PropSec is a discretionary trust model exclusively built for API valuation professionals through a groundbreaking partnership between a professional Industry body, Brokers and Insurers.
A deep collaboration with Howden Insurance Group and the API, PropSec is an affordable, custom-designed PI insurance solution tailored to meet the specific needs of our Members. PropSec provides high-quality coverage, with the goal of reducing PII premiums through collaborative procurement and an opportunity to enhance risk management practices for the industry.
This discretionary trust model pools funds from eligible Members, to increase bargaining power and provide greater certainty around premiums and coverage, whilst simplifying the renewal process, and streamlining the underwriting for faster approvals.
To be eligible for PropSec, people must be an API Member, be part of the APIV Scheme, and meet certain risk profiles.
Interested?
To learn more about PropSec, please fill out the Expressions of Interest form. A Howden representative will contact you for a confidential conversation, provide detailed information about the product, and assessment process.
PropSec Expression of Interest
