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

Deadline 5 April

Hannah Godfrey
clock
"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
Image:

"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) awards...

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.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Sarah Lord: "Take this opportunity and be sure to share your views before the consultation closes on 17 December."

Sarah Lord: Building a strong, sustainable and profitable profession

Vision for profession

clock 06 December 2021 • 3 min read
Among those expecting to work beyond their state pension age, 43% consider their pension to be inadequate to retire fully.

17.1m pushing the state pension age

More than one million UK workers believe they will never retire, according to research from Canada Life.

clock 06 December 2021 • 2 min read
Gillian Hepburn, director of intermediary solutions at Schroders

Advisers should not ignore younger generations - Schroders

PA Working Lunch webinar

clock 03 December 2021 • 2 min read