FSA plans end to computer related compensation cover

Compensation claims arising from computer difficulties would no longer be covered by an adviser's professional indemnity insurance (PII) policy under FSA proposals. This would be the result of new indemnity insurance exclusions outlined in the regulator's Consultation Paper 169. There is no mention of issues arising from computer failure in the existing financial adviser indemnity insurance exclusions. The FSA claims it is being added to bring the regulator's standard provisions up to date and in line with general indemnity insurance market practice on computer network and data corrup...