Image:
Keith Richards: "The challenges being faced by advice firms with pending professional indemnity insurance renewals and those who have had little option but to accept unacceptable terms or cease trading is leaving the sector and consumers exposed."
The Personal Finance Society (PFS) is urging both the Financial Conduct Authority (FCA) and HM Treasury to introduce a temporary four-month waiver for advice firms searching for professional indemnity (PI) insurance.
The professional body has written to the regulator and the government to request the temporary measure, which it said will ease pressure on advisers. It has asked the treasury to act as a reinsurer...
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.
