Media, politicians and FCA serving to push up PI costs - Keith Richards

The Personal Finance Society chief executive told Professional Adviser insurers were doing what they were able to do by assessing whether they were overexposed to risk before warning the situation could eventually see advisers bearing the risk on their own. Quoted in the Financial Times this morning, Richards (pictured) had said some professional indemnity insurers had begun to pull back from providing cover for advisers involved in defined benefit (DB) transfer advice, which was resulting in increased premiums for advice firms. Richards told PA the advisers who contacted the PFS abou...