Aileen Lynch takes a look at PII cover in light of the threat posed by insistent clients and outlines how advisers can stay ahead of the game
The matter of obtaining professional indemnity insurance (PII) cover is always at the back of an adviser's mind. Any firm undertaking pensions freedom business fears the repercussions on the availability of PII and the level of premiums should insurers decide to restrict cover, or extend their requirements, in order to achieve cover for the business the firm writes. This uncertainty is the ‘elephant in the room'. As yet, insurers are not providing information on how they intend to proceed, however, this may change with claims experience under the new pension freedom regime. Of c...
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