Willis unveils PI excess cover facility

By Rebecca Delaney

April 8 - (The Insurer) - Willis has launched a professional indemnity solution offering capacity of $40 million for professional firms operating in the current volatile business environment.

The same amount of capacity is also available in other currencies.

The ProXS facility includes competing panels from Lloyd's and company markets, with pre-agreed discount premiums.

With an extended policy period of up to 18 months, the ProXS solution also provides a streamlined process for mid-term adjustments.

Earlier this month, Willis expanded the capacity available through its CyXS excess layer cyber facility to $115 million via Lloyd’s syndicates and up to $40 million outside Lloyd’s.

Launched in February last year with an initial excess layer of $50 million, the expanded capacity from the CyXS facility is also available in pounds and euros of the same amount.