70 DB transfers later: How one South Wales firm sorted its PI renewal

Leabold Financial Management, based in South Wales, has recently achieved full renewal of its PI insurance, despite completing 70 defined benefit (DB) transfers, which has proven to be an obstacle for other firms seeking cover. Research conducted by PIMFA found the majority (83%) of financial advice business owners and wealth management chief executives do not have confidence in their ability to secure affordable PI insurance in the future. A little more than half (56%) of the 84 respondents reported their professional indemnity (PI) insurance contained significant restrictions, includin...