Ex-Towergate team launches IFA-focused PI business

A team of ex-Towergate professional indemnity brokers has launched a new underwriting operation specifically catering to the needs of independent advisers.

Roger Crowther, managing director of the Sheffield-based fledgling company The PI Desk, left Towergate in 2012 to support his wife whose health was deteriorating in a battle with cancer. Now, he said he has recruited a number of his former colleagues to return to the market.

Mr Crowther said: “It has been a very tough year for me losing Diane to cancer but as I have my old underwriting team with me we are ready to go, looking forward to new challenges and building strong relationships with financial advisers over the next few years.

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“It is an exciting time to return to the market after 18 months launching a new business with Lloyds Coverholder status and a new IFA professional indemnity proposition. My team has worked in the mortgage and financial adviser PI market for a number of years so a new IFA scheme was a natural fit for our new business going forward.”

Shortly after Mr Crowther’s departure Towergate closed its Sheffield office, amalgamating that area of its business with another office in Manchester. That left Mr Crowther’s former team free to join his new venture.

Although The PI Desk will focus on IFA PI, it will also offer a range of miscellaneous PI occupations distributing directly to clients and via the Commercial Insurance Intermediary.

Next year, the firm plans to widen its product range with a commercial office and property portal and a larger premium liability scheme.