Aegon urges FCA to prioritise DB transfer advice in PI consultation

Consultation closes on 1 August

Victoria McKeever
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Steven Cameron: "“We can’t afford removing claims limits to lead to further shrinkage in the PI market, potentially denying thousands of customers from access to advice on DB transfers."
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Steven Cameron: "“We can’t afford removing claims limits to lead to further shrinkage in the PI market, potentially denying thousands of customers from access to advice on DB transfers."

Aegon has urged the regulator to give priority to ensuring affordable professional indemnity (PI) insurance is available to firms offering defined benefit (DB) transfer advice, in its consultation on the area.

In a consultation which closes on 1 August, the Financial Conduct Authority (FCA) is considering introducing changes to PI insurance to stop some policies from containing limits on claims where the...

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