PI cover up for 95% of advisers with pension transfer permissions

In its poll, which surveyed 94 financial advisers with regulatory permissions to advise on pension transfers, the CII found that nearly four-in-10 had seen the cost of their PI cover had increase by between 20% and 50% from the amount they paid a year ago. Meanwhile, a third (36%) stated the price they pay had gone up by more than 50%. Meanwhile, half of the advisers polled said they had to pass the extra costs onto their clients. Personal Finance Society chief executive Keith Richards said: "The hardening of the professional indemnity insurance market is impacting the availability of...