"In a profession that is rapidly changing, we’ll maintain contact with advisers & customers to ensure the product stays relevant, continues to meet needs, and evolves where necessary."
- Edward Ambrose, Head of UK Professional Indemnity at RSA Insurance
Professional Indemnity (PI) products are an important type of business protection for companies & consultants that advise businesses on sustainability, net zero, and climate-related strategies. It insures businesses in case a client or customer claims that the service, design, or advice was inadequate, not as expected, or resulted in financial loss. Additionally, it covers any legal costs & expenses incurred, as well as damages/costs that may be awarded to the customer.
Given the heightened requirements for businesses, shareholders, and regulators to establish strong net zero strategies, there’s been a demand for consultants offering specialist advice. RSA Insurance’s Climate Professionals is a PI product aimed at various climate-related professions, including Environment, Social, and Governance (ESG) consultants & engineers.
This offering has been inspired by RSA Insurance’s existing PI product, with the addition of climate-related features, and is available to advisers via RSA’s Regions business.
Furthermore, customers have been given exclusive access to a newly created section of the RSA Business Support Hub. This section has a wide selection of ESG guidance; articles, blogs, practical guides, case studies, and videos covering regulatory, legal, disclosure, and environmental topics.
“With climate, sustainability, and net zero consideration growing in importance to organisations, we believe there is strong demand and desire for this type of product. We’re delighted to launch a genuinely one-of-a-kind proposition, for an underserved section of the market, and play our part in enabling the transition to a low carbon economy,” explained Edward Ambrose, Head of UK Professional Indemnity at RSA Insurance.
He said: “We’ve developed a product that understands the demands placed upon climate professionals and offers an unrivalled cover that truly suits their needs.
“In a profession that is rapidly changing, we’ll maintain contact with advisers & customers to ensure the product stays relevant, continues to meet needs, and evolves where necessary,” Edward concluded.
