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-Interim Management Association joins forces with Jelf and launches sector first-

-Interim Management Association joins forces with Jelf and launches sector first-

Continuing its mission to raise industry standards, The Interim Management Association (IMA), the representative voice for the interim management provider sector, has launched bespoke insurance offerings for both IMA members and interim managers (

The industry body, which is a specialist sector group of the REC, has joined forces with Jelf, a leading independent insurance consultancy and specialist global insurer, Hiscox, to bring the products to market. The organisations have worked closely over the past few months to understand the main concerns of the interim management recruiter community when it comes to insurance cover.

Jelf will provide a consultancy service to IMA members, reviewing their activities relating to interim assignments against the insurance cover they currently have, as well as the opportunity to arrange cover through tailor made insurance packages underwritten by Hiscox.

For the interim manager community, Jelf will help to identify the complexities surrounding professional indemnity (PI) cover, and offer a solution which includes specific project cover and additional protection post-assignment completion.

Simon Drake, head of special projects at the IMA and a director at Penna plc, commented: "More often than not, interim managers take out their own policies after obtaining a series of online quotes for professional indemnity cover. However, unfortunately some insurance companies don't capture the complexity of the work involved and in some instances we have found insurance where exclusions would make the cover worthless to the interim manager, yet the policy was sold.

"We have worked with Jelf and Hiscox to create two truly tailored products the first of their kind for the sector. Interims can take out exactly the right type of cover for the task in hand, and - by doing so - will not expose themselves to unnecessary risk." 

Jason Atkinson, chairman of the IMA and managing director at Russam Interim, added: "We are thrilled to be launching these products to market, and believe they will be well-received. All interim managers must have insurance cover in place before working on an assignment, and this is checked by IMA member companies. Equally, we would expect our members to have the right levels of cover in place."

Andy Lyons, affinities relationship manager at Jelf, said: "We have worked with the IMA to understand the complexities of the interim sector, and in conjunction with Hiscox, we are able to offer insurance solutions designed specifically for interim recruiters and interim managers."

Lee Turner, Hiscox’s national schemes sales manager for the UK and Ireland, added: “We have a deep understanding of the professional indemnity market and more than 50 years’ worth of experience in dealing with complex or unusual risks, which makes us well-placed to look after the specific needs of IMA members.”

As part of the IMA Approved campaign, which was launched in 2012, the checklist incorporates a focus on the need for IMA providers 'only placing genuine self-employed interim managers who trade through a limited company and who have adequate professional indemnity (PI) insurance cover in place'.


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