IFP Accredited firms offered 'enhanced' PII cover

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Accredited Financial Planning firms are to be offered wider professional indemnity insurance (PII) cover, including full legal liability, under a deal arranged by the Institute of Financial Planning (IFP).

The IFP assesses firms' professionalism, staff and service to see if they are eligible for a place on its Accredited list. Its PII policy deal is being offered by IFA Solutions, a division of Lloyd's broker The Underwriting Exchange, which said it was recognising the standards upheld by Accredited firms. As well as full legal liability, which is in contrast to the many policy forms in the market which are limited to negligent acts, errors and omissions, the policy also includes cover for previous business activities while a member of a network. Other policy enhancements include cov...

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