Why Winning ‘Best Delivery PII Service to Advisers’ Matters to Us
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We’re absolutely delighted to share that BareRock has won Best Delivery PII Service to Advisers at the FT Adviser Financial Advice Service Awards 2025. But more than the trophy itself, this recognition validates something we’ve believed from day one: that professional indemnity insurance should work fundamentally differently. Traditional PII has always been reactive – waiting for things to go wrong, then dealing with the fallout. We’ve flipped that model on its head through our Good Companies in Good Company® philosophy. Our approach is about supporting advisory excellence and helping firms thrive, not just picking up the pieces when problems occur. This award confirms that the industry recognises the value of doing things differently. Some examples of what Makes Us Different: We reward quality, not just calculate turnover! Through BareRock Club Quality-Based Pricing, we recognise individual firm excellence through measurable criteria. This year, 78% of firms who engaged with our risk management consultations moved up Club tiers – most progressing from Club to Club 10 status and unlocking immediate 10% premium reductions. Removal of Unnecessary Barriers Traditional PII creates a paradox: when firms discover errors before clients complain, they’re forced to issue Informed Position Letters that effectively invite a complaint before they can resolve the issue. This bureaucratic barrier sits uncomfortably with Consumer Duty obligations. Our policy removes this friction entirely – firms can notify us immediately and fix issues proactively, without waiting for formal complaints. This means firms can demonstrate their commitment to client care through swift action rather than navigating bureaucratic processes that delay resolution and create unnecessary client anxiety. We Empower Firms to Act Quickly Our revolutionary 3-Day Complaint Resolution clause enables firms to resolve complaints within the FCA’s threshold without breaching policy conditions. Instead of creating friction between identifying and solving problems, we remove the barriers that stop firms doing the right thing for their clients immediately. We Make Renewal Simple What previously took firms 5-7 business days now takes 30 minutes to 4 hours with our fully digital platform. Our high renewal rate speaks volumes about how we work in partnership with firms rather than treating them as transactions. We Address Modern Risks From mental health support for team members dealing with complaints, to reputation protection in the digital age, to comprehensive regulatory defence costs coverage – we’ve built a policy that reflects the real challenges today’s advisory firms face. This FT Adviser Award isn’t just about us – it’s validation that the advisory sector values insurers who genuinely support excellence rather than simply managing risk. It confirms that our belief in partnership over transaction, in quality over volume, and in proactive support over reactive response, resonates with the firms we’re proud to work with. Thank you to everyone who has been part of our journey. This recognition belongs to all of us – the advisory firms who trust us, the partners who collaborate with us, and our team who live our values every day. Here’s to continuing to reimagine what professional indemnity insurance can be. |