Professional Indemnity Committee Member

Job Title: Professional Indemnity Committee Member
Contract Type: Contract
Location: London
Salary: voluntary role
Reference: PIIC2020
Contact Name: Sarah-Jane Owen
Contact Email:
Job Published: February 08, 2021 09:09

Job Description

We are seeking new members for the Professional Indemnity Committee who ideally have technical knowledge of PII or experience in arranging their own firm’s PII/risk management strategy.

You need to have the ability to think independently and objectively and to work collaboratively with other members whilst still exercising independence of judgement. You will be expected to work together as a committee to reach consensus and support collective decisions. You will have the ability to assimilate, analyse and interpret data and complex information in a fair and impartial manner.

The Committee is responsible for all matters relating to Professional Indemnity Insurance (PII) including:

(a)keeping under review ICAEW’s policy on compulsory PII;

(b)considering revisions to the PII regulations and minimum approved wording;

(c)approving the form and content of contracts underpinning the PII arrangements;

(d)nominating ICAEW’s representatives on the Joint Professional Indemnity Insurance Committee and Joint Advisory Panel;

(e)reviewing membership of the Assigned Risk Pool; and

(f)monitoring compliance with the PII Regulations with particular reference to: designating insurers as participating  insurers; ensuring the commissioning of investigations into firms applying for entry to the assigned risk pool; and determining applications for dispensation from the requirements of the PII regulations. 

ICAEW is committed to diversity; we value and promote diversity and are committed to equality of opportunity for all appointments made on merit. We positively encourage application from people from all sections of the community, from all backgrounds and with a broad range of experience. We particularly want to hear from individuals in smaller to mid-size firms and regional firms outside of London.

The appointment will be for an initial term of three years. The Committee meets four times a year for around 2 to 3 hours at Chartered Accountants' Hall in London. It is also possible to join meetings using video or telephone conferencing facilities. Committee members may also have some out of meeting matters for consideration and/or decision from time to time.