Tenet Group is considering offering run-off cover to its members, through its PI subsidiary Paragon, to plug what it sees as a big hole in the market.
Following the FSA's announcement it has ruled out introducing a 15-year long-stop on complaints against advisers, run-off cover to protect advisers after they have exited the industry has become even more important. However, Tenet argues run-off cover is difficult to obtain and costly, with many advisers ignoring it altogether. The move comes as a survey of our 250-strong Professional Adviser Panel of advisers found 83% said run-off cover was important or very important to their business, although 40% reported it was scarce in the current environment. Tenet Group distribution and d...
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