FSA 'overstepped the mark' with PII letter - lawyer

In the letter, which was distributed last week, the regulator addressed concerns it had received from advisers about the possibility of Arch Cru claims being excluded when they renew their policies. Clive Adamson, the FSA's director of supervision, said: "It is not our intention to dictate what risks insurers should cover, nor are we seeking to require insurers to go beyond the cover as described in the relevant PII policies, but we are certainly prepared to consider taking action where insurers seek to breach or avoid their obligations to the detriment of consumers. "We would remind ...