Axa cuts PI rates for its advisers
Axa Australia is giving its licensed advisers a new professional indemnity (PI) insurance deal with an annual premium of $225.
Axa National Compliance and Advisory Services Manager Simon Wallace says independent advice indicates the new deal is at least 50% cheaper than the market.
Mr Wallace says this was made possible by the excellent low claims record of Axa advisers and the quality of advice being provided to clients.
“The announcement reflects a further 20% reduction on our premiums,” he said. “This is the sixth consecutive year we experienced a reduction in premiums.”
The insurer says the premium decreases were also achieved through its certified quality advice program (CQAP).
As part of the new PI insurance deal, Axa’s CQAP accredited practices will receive a further 10% discount on their premiums.
Axa National Compliance and Advisory Services Manager Simon Wallace says independent advice indicates the new deal is at least 50% cheaper than the market.
Mr Wallace says this was made possible by the excellent low claims record of Axa advisers and the quality of advice being provided to clients.
“The announcement reflects a further 20% reduction on our premiums,” he said. “This is the sixth consecutive year we experienced a reduction in premiums.”
The insurer says the premium decreases were also achieved through its certified quality advice program (CQAP).
As part of the new PI insurance deal, Axa’s CQAP accredited practices will receive a further 10% discount on their premiums.