IN SPAIN, CGPA EUROPE UNDERWRITING AND EL CONSEJO GENERAL (GENERAL COUNCIL OF COLLEGES OF INSURANCE INTERMEDIARIES) ENTER INTO A PARTNERSHIP FOR THE PROFESSIONAL INDEMNITY OF INSURANCE AGENTS
Thanks to this partnership agreement, CGPA Europe will offer all exclusive agents who are members of El Consejo General the possibility to take out a policy covering their Professional Indemnity.
The spokeperson of the Consejo commented it as “an excellent option that will allow the collegiate agents to develop their activity with the necessary tranquility to exercise their profession in the best possible way”.
This partnership agreement allows agents to benefit from the support of specialists and guarantees adapted to their activity, as well as the coverage of risks related to their professional activity. This insurance is essential for insurance intermediaries, particularly since the law implementing the Insurance Distribution Directive (IDD) came into force, which focuses on consumer protection.
Carlos Montesinos, CEO of CGPA Europe Underwriting, explains that it is essential for agents to be able to rely on an insurance option in Spain such as that offered by CGPA Europe — an insurer with more than 90 years’ experience, exclusively insuring risks related to the professional activity of insurance intermediaries — thus ensuring that there is no conflict of interest in the event of a claim.
CGPA has been signing a series of partnership agreements for many years now with various associations of Insurance intermediaries in several European countries : BIBA (UK), AGEA and Planète CSCA (France), AIBA and many agents’ unions in Italy. This new partnership with the General Council of Colleges of Insurance intermediaries thus strengthens CGPA Europe’s relationship with European associations of intermediaries.