For Managing Agents

PIMA and the Fidelity Cover extension is essentially a product to protect the managing agency from losses incurred through errors or omissions on the part of the principals or their employees and the fidelity extension cover to extend to losses incurred through fraud and/or dishonesty by the managing agencies employees.

PIMA – Professional Indemnity for managing agents

Any professional can make a mistake or omission which could cost thousands, if not hundreds of thousands. Even unfounded claims against the managing agency needs to be defended, usually at some cost. Mistakes like a portfolio manager suggesting an incorrect resolution, omitting to deal with an issue, forgetting to carry out an instruction etc. which could result in a huge claim against the managing agent.

FIDELITY EXTENSION – Fidelity Section of PIMA policy

By extending your PIMA cover to include fidelity cover, the managing agent

a) Protects itself against fraud or dishonesty by one of its staff / employees
b) effectively protects it’s clients further where the EAAB Fidelity fund falls short
c) provides the basis whereby bodies corporate client’s under it’s wing can now purchase fidelity cover for very reasonable premium.*

FIDCURE – Fidelity Guarantee for Bodies Corporate

These Fidelity Guarantees are only (exclusively) available to bodies corporate that are managed by managing agents* with the PIMA Fidelity cover.

Is is not just marketing / sweet talk when a managing agent boasts that they, besides holding the Estate Agencies Affairs Board Fidelity Fund Certificate, that they hold the PIMA Fidelity Guarantee and thus offer the most comprehensive cover for bodies corporate – FACT!

Managing Agents who are underwritten and have the PIMA Fidelity Cover, which are able to arrange FIDCURE Fidelity Guarantees for client bodies corporate are listed on www.fidcure.blogspot.com