PYV negotiates improved rates for MIs

PYV, the professional indemnity insurance broker for mortgage intermediaries, has negotiated new improved rates for mortgage intermediaries with St. Paul Travelers.

PYV say this is good news for all types of mortgage intermediaries, ranging from networks to one-man bands, and improved rates extend to general insurance activities as well as term life activities.

Ian Boscoe, director at PYV, says: “We are delighted with this new deal with St.Paul Travelers. We see it having widespread effect, with many mortgage intermediaries who are currently insured elsewhere, enjoying very significant savings, if they obtain a quote from our new facilities.”

PYV currently acts as Broker to some 27% of directly regulated IFAs and MIs.

Boscoe adds: “I am pleased to report that as a result of this latest innovation, more and more MIs who have become disillusioned with the service and premiums quoted by their current provider are appointing PYV as their professional indemnity broker.”

To service the growing needs of the profession PYV have also launched the MI help line for all MIs.