Premium pains: How adviser firms can try to lower PI costs

Including five tips

clock • 6 min read
In 2020/21 financial adviser firms paid £119m in annualised PII premiums, up from £110m the year before
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In 2020/21 financial adviser firms paid £119m in annualised PII premiums, up from £110m the year before

Advisers are continuing to pay more for PI cover, making it harder to run their businesses cost-efficiently. But what – if anything – can be done to ease the pain?

Advisers must have PI cover in place, but this necessity is a controversy for many, with premiums becoming an expensive business cost in recent years. Reducing this is possible but a hard market has limited...

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