The majority of the industry is in favour of creating an industry mutual in a bid to solve the probl...
The majority of the industry is in favour of creating an industry mutual in a bid to solve the problems in the PII market, the FSA says, but most think it should be on the condition that firms are assessed on a risk basis with the mutual having a right to refuse cover. This comes as the City regulator today outlines the industry's solutions to the dilemma in its CP 193: 'Professional Indemnity Insurance for personal investment firms: proposed policy and rules'. According to the FSA, many of the respondents believe that the regulator should be closely involved in setting up an ...
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