Adviser PII offering launches with aim to 'fix broken system'

BareRock to reward advisers that can evidence a risk-mitigation approach

Sahar Nazir
clock • 1 min read

BareRock has launched a digital-first platform to offer professional indemnity insurance (PII) to regulated financial advice firms.

The insurance provider said it aims to "fix the broken PII system" with the new service by rewarding advice firms that can better evidence their individual risk, resulting in fairer and more stable PII premiums. BareRock will offer digital efficiency with a human touch and will work with firms that can demonstrate "robust processes, a culture of responsible conduct, and a track record of consistently delivering positive client outcomes". Chief executive Jonathan Newell said: "We have seen time and again that good advice firms have been unfairly burdened with high PII premiums through ...

To continue reading this article...

Join Professional Adviser for free

  • 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
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

'It's time to redefine communications in financial advice'

'It's time to redefine communications in financial advice'

Client interactions ‘outdated’ due to inadequate technology

Sahar Nazir
clock 17 July 2024 • 3 min read
Pension Schemes Bill announced in the King's Speech

Pension Schemes Bill announced in the King's Speech

New legislation announced after 2024 state opening of parliament

Martin Richmond
clock 17 July 2024 • 2 min read
Vanguard unveils advisory centre to support investors

Vanguard unveils advisory centre to support investors

The Advisory Research Centre will support investors across Europe

Sahar Nazir
clock 17 July 2024 • 1 min read