Arch Cru: Why advisers should check their PII policy small print

Advisers have been required to write to investors in Arch Cru with their redress determinations. Most will have notified their professional indemnity insurers of an Arch Cru exposure and, in most cases, those notifications have been accepted. However, arguments are beginning to emerge from insurers as to the number of policy excesses which should apply to claims for Arch Cru payments. If the relevant insurance policy states only that the excess shall apply to each and every claimant, then it is likely a policy excess should be applied to each Arch Cru investor. However, some insurance...