Advisers to miss FCA's PI deadline as policy applications overwhelm insurer

Deadline 5 April

Hannah Godfrey
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"Due to the volume of enquiries received concerning this matter since the FCA's email last Friday night, it is unlikely that we will be able to respond to everyone by 5 April" - Collegiate
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"Due to the volume of enquiries received concerning this matter since the FCA's email last Friday night, it is unlikely that we will be able to respond to everyone by 5 April" - Collegiate

Advice firms insured through Collegiate are set to miss the FCA's deadline for information on its PI cover because the insurer has been overwhelmed with defined benefit (DB) insurance applications from policyholders.

Last Friday, the Financial Conduct Authority (FCA) sent advisers an email on potential changes to their professional indemnity (PI) cover just three days before the Financial Ombudsman Service (FOS...

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