Davies admits PII problem

FSA chairman Howard Davies has said professional indemnity insurance (PII) is not an issue the authority can resolve on its own but acknowledged there is a regulatory dimension to the problem. Speaking at the first ABI annual conference last week, Davies told delegates it has become clear there is a significant market problem with PII. There is evidence of difficulties across a wide range of employer liability, directors and officers insurance, and the cost of such insurance for accountants, lawyers and other professionals has risen by just as much, if not more, than it has for inter...