PII experts challenge FSA over Arch Cru fallout

Earlier this week, the FSA announced that, under plans being consulted on, advisers will have to hand over around £110m back to clients for mis-selling them the funds. In the consultation document, it said: "We have considered the impact on the availability of professional indemnity insurance (PII). "We do not consider that our proposals will have a significant impact on the future availability of PII in general, but we will revise this assessment in the light of any evidence received." However, Neil Pointon (pictured), director of retail at Howden Insurance Brokers, says the propo...