Manchester Underwriting Management
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Annual Automatic Renewals (Paid by Monthly Instalments)

You are here:Home » Products » Annual Automatic Renewals (Paid by Monthly Instalments)

Why Automatic Renewals?

There can’t be a better way of doing business with MUM than in a relaxed, hassle-free way where renewals take care of themselves.

With MUM you can provide your professional clients with a policy that:

  • Takes out the hassle of completing proposal forms by automatically renewing
  • Covers their PI, and liabilities
  • Your client pays by interest-free direct debit.
And you get 12 months’ commission paid up front and then annually thereafter.

How does it work?

The automatic renewals are designed for small businesses that are not subject to dramatic fluctuation. We will normally offer this to firms that buy Professional Indemnity up to a Limit of Liability of £2,000,000 and with a premium below £3,500. If your client’s policy is outside of this criteria it has been moved to an annual policy with a 0% instalment plan but where renewal is underwritten individually.

It’s a simple process:

  • MUM will provide a quote offering terms on a monthly basis. The quote will include a declaration and direct debit form.
  • If the client wishes to take out an annual policy with tacit renewal, they must complete both the declaration and direct debit form.
  • IMPORTANT – the declaration explains that the premium has been based on the proposal form and any other information that was provided to us, as defined in the Automatic Renewal Endorsement (PI6120). We rely on the insured to inform us promptly of any material changes to the information they have given to us, as there is no annual proposal form.
  • Near the anniversary date, MUM will send you (the broker) a reminder of the information declared, so you may remind your client if you wish.
  • At the renewal of the policy, MUM will pay your commission for the next year.
  • We will require a full proposal form every three years.

The policy will be endorsed with our Automatic Renewal Endorsement (PI6120), which sets out the terms and conditions. Copies of the Automatic Renewal Endorsement (PI6120), Direct Debit and Declaration are on the right for you to download.

What makes the difference?

Flexible attitude to underwriting and premiums
‘Can do’ approach to risk with each risk evaluated on its merit
Industry-specific wordings
PI and Liability covers for SME businesses
£5 million Limit of Indemnity for PI
Aggregate and any one claim wordings as standard
Primary and excess layers
Tailor made schemes

Related downloads

Download NowPI6121 Instalment Clause.pdf


Download NowPI6120 Automatic renewal endorsement.pdf

Download NowMonthly Policy Application.pdf


Download NowDDM FORM DD12.pdf

Contact us

Link House, St. Mary’s Way, Chesham, Buckinghamshire, HP5 1HR
Telephone: +44(0) 1494 770700
Fax: +44(0) 1494 774724
Email: info@manchesterunderwriting.com
When we offer insurance products we will state clearly which insurer will underwrite the policy. Any description of cover on this website does not include all terms, conditions and exclusions of any cover we may provide, which will be contained in the policy wording itself.

Contact Us

info@manchesterunderwriting.com

01494 770700

Follow @MUM_News

Complaints

We make every effort to deliver a high quality service to our customers. If you have a complaint about our service, or about a claim, we operate a swift and effective complaints handling procedure. To find out more click here.
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Manchester Underwriting Management is a trading name of Pen Underwriting Limited which is authorised and regulated by the Financial Conduct Authority (FCA number 314493). Registered Office: The Walbrook Building, 25 Walbrook, London EC4N 8AW. Registered in England and Wales. Company Number: 5172311.

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