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...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
