Tenet has secured an arrangement with its underwriters to offer chartered advisers a 50% discount on their PI excess when compared to a standard policy.

The incentive is due to go live from the beginning of October.

Tenet distribution & development director, Helen Turner, said it was part of an on-going plan to make excesses more closely related to risk profiles and reward positive conduct.

Turner believes that Tenet are the only network to offer such a saving and has confirmed that both investment and non-investment advisers will also benefit from improved excess terms.

She said: “Working closely with our Guernsey-based subsidiary, Paragon Insurance, we can encourage specific behaviour and respond with complete flexibility to market demands.

“Advisers benefit from significant potential savings and, as a network, we are promoting and rewarding higher standards, in line with the primary aims of the RDR.”