Chubb withdraws from PII market for IFAs

The company has contacted a number of brokers in the past week to inform them of the decision to stop accepting new business or renewals, although it will continue to honour quotations already given for a short period. Existing policies will remain in place until their renewal dates, while Chubb is ceasing to provide cover for surveyors. Neil Pointon, director of retail at Howden Insurance Brokers, suggested the move was a further sign of a hardening market. He said: "The market was getting tougher and the reason for this is the increasing number of claims arising in the IFA sector...