Image:
"When you realise overnight your PI insurance may not be sufficient to cover FOS limits, and the uncertainty involved, it's a scary place to be" - IFS Wealth & Pensions' Ricky Chan
Professional indemnity (PI) insurance provider Collegiate has questioned whether it will continue to insure defined benefit (DB) transfers following the FOS compensation limit increase.
In an email seen by Professional Adviser, the PI provider confirmed all of its active policies would provide full indemnity cover for any Financial Ombudsman Service (FOS) awards up to the new £350,000...
To continue reading this article...
Join Professional Adviser
- 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.
- Tap into our community intelligence through our regular Pro Adviser poll.
- Be the first to hear about our events and awards programmes.
