Wesleyan Professional Indemnity Insurance (PII)
Protection that’s led by the needs of you and your firm
As a broker, Wesleyan Financial Services will work in partnership with you to truly understand your firm's unique coverage requirements and to ensure that your cover aligns with these needs.
Going further, their hands-on approach to developing and nurturing long-term relationships means that your dedicated account handler will remain by your side, offering ongoing support, advice, guidance and clarity, as and when you need it.
With their in-depth understanding of solicitors' careers and protection requirements, the Wesleyan Professional Indemnity proposition has been designed to address the challenges that many firms face on a daily basis.
What are the key benefits of getting your PII from Wesleyan Financial Services?
The key features include:
- independent broker with access to the majority of insurers
- free 12-month access to DG Legal's Compliance Caddy software
Wesleyan Financial Services' holistic approach means they are also able to help with any wider protection coverage needs you may have, including key person insurance and partnership protection.
Limits, exclusions and charges do apply. Full terms and conditions of the policy and cover, including the policy benefits and exclusions, will be contained in the policy wording and policy summary. Risk must be acceptable to the insurance underwriters on the panel of Wesleyan Financial Services.
Exclusive offer: PII funding offer
For a limited time, when you get your firm's professional indemnity insurance with Wesleyan Financial Services, you will be offered an option to fund your PII at a fixed rate of 1% APR with Wesleyan Bank*.
- Low rate loan for PII
- 1% APR representative
- Funding available from £5,000 to £500,000
This is a limited offer available for PII policies commencing between 1 January 2021 and 31 December 2021. The rates after this period will return to the standard rate.
|Total amount of credit||£50,000|
|Term of loan||12 months|
|Total amount payable||£50,500|
|Interest rate per annum||1% (fixed)|
Wesleyan Financial Services is a credit broker, not a lender. Lending is provided by Wesleyan Bank.
The Wesleyan Group's people, heritage and culture
When you choose Wesleyan Financial Services as a broker, you will be supported by a team that's committed to serving the legal profession. You will also have a dedicated account handler, allowing you to build a trusting relationship with a specialist that you can rely on at any time.
This means that if and when you need to make a claim, you can feel confident in knowing that they will work alongside insurers on your behalf to ensure your voice is heard.
In addition to their extensive experience of brokering and advising PII to law firms, the team also has in-depth knowledge and experience of:
- developing risk management strategies, supported by accredited Lexcel quality consultants
- insurance considerations of key developments such as OFR and ABS
- implications of industry rules (for example, successor practices) and the compliance (COLP/COFA) regime
- claims and circumstance notification – adding value with expert advice, not just relaying information direct to the insurer
The Wesleyan Group was founded with Wesleyan Assurance Society 180 years ago and has been based in Birmingham city centre ever since. Wesleyan currently hold over £9 billion in assets.
Their status as a mutual means that they are able to place – and keep – their members' best interests at the core of all that they do.
As a values-led company, Wesleyan's dedicated team of experts are committed to supporting and protecting the needs of their clients, as well as the wider community.
The Wesleyan Foundation, which was launched three years ago, has recently hit the £3 million donation milestone – find out more about the foundation and its small and large grant funds.
Wesleyan is a trading name of the Wesleyan Group of companies.
Wesleyan Financial Services Ltd (registered in England and Wales No. 1651212) is authorised and regulated by the Financial Conduct Authority. Wesleyan Bank Ltd (Registered in England and Wales No. 2839202) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation.
The Law Society is an introducer appointed representative of Wesleyan Bank Ltd.
*The offer is subject to professional indemnity risks cover placed with Wesleyan Financial Services along with the following:
- This offer applies to solicitors purchasing professional indemnity insurance for their practice(s) located in England and Wales only. All other customers are excluded.
- Your professional indemnity insurance is purchased from Wesleyan Financial Services (WFS) Limited and not from any other insurance broker or insurance provider.
- Your business must have a minimum of two partners and no more than 30 partners
- You must be a partnership, a limited liability partnership or a limited company, and registered at Companies House (if applicable).
- The offer of 1% APR on funding is only available for policies with premiums between £5,000 and £500,000 and is subject to meeting underwriting criteria.
- Offer available on successfully taking out a professional indemnity insurance policy with Wesleyan Financial Services commencing on 1 January 2021 and before midnight on 31 December 2021.
- Wesleyan Financial Services Ltd is a credit broker and not a credit lender. Credit applications and offer will be made by Wesleyan Bank Ltd.
- Any offer of PII is dependent on the risks being acceptable to insurance underwriters on the panel of Wesleyan Financial Services and exclusions may apply. There is no guarantee that Wesleyan Financial Services will be able to offer you a PII policy.
- Wesleyan Bank will offer a funding period determined by the length of your professional insurance policy. Wesleyan's professional indemnity insurance covers 12 or 18 months. We will advise the best term of your policy based on your business demands and needs.
- Written funding quotations are available on request from Wesleyan Bank Ltd. Credit facilities are subject to status and only available to UK residents over the age of 18. Wesleyan Bank Ltd reserves the right to decline any application. APR and repayment details are correct at the time of print.
- These Terms and Conditions apply in addition to the WFS General Insurance Terms of Business Agreement and are subject to the laws of England and Wales and the exclusive jurisdiction of England and Wales.
- WFS reserves the right to withdraw this offer at any time.
- Risk must be acceptable to the insurance underwriters on the panel of Wesleyan Financial Services.