A consultancy on professional indemnity insurance has been launched by HBOS Group company Clerical Medical to aid IFAs dealing with requirements stemming from the Insurance Mediation Directive.
Offered in association with IFA Mentor, Clerical’s “PI Insurance Consultancy” will focus particularly on those advisers who have experienced difficulties getting cover, or who feel existing arrangements are inadequate.
Three types of service will be offered:
Clerical’s head of intermediary strategic planning David Shelton warns the IMD demands will potentially leave businesses unable to continue trading, where PI cover is inadequate.
He says: “Through our new PII Consultancy Service, we can offer advisers access to IFA Mentor, a specialist firm who is up to date in the complex PII market. They provide fully impartial analysis along with solutions to, what can often be, a time consuming and expensive problem.”IFAonline
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