For network advisers, obtaining professional indemnity insurance is often part of the package, but, for the rest, it can be a bit of a struggle. IFAonline finds out what your peers look for - and who they look to - to get the best deal...
Professional indemnity (PI) insurance is one of the many areas of advisers’ lives under scrutiny from the Financial Services Authority (FSA). As recently as September, the regulator urged firms to consider their PI situation ahead of the implementation of the Retail Distribution Review (RDR) at the end of last year. For firms seeking to remain independent, the regulator stressed the need for them to hold PI insurance which covers them for the “full range of retail investment products” they need to consider, or, where any product types were excluded under the terms of their policies, t...
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