The Personal Finance Society (PFS) has put together a buyer's guide for advisers on professional indemnity (PI) insurance, with top tips on what to look for when choosing cover.
Adviser support group Tenet is extending its offer of permanent run-off cover to the wider market.
Advisers need to look at the product first and the client second when they are doing due diligence to meet the "very high" standards the Financial Services Authority (FSA) expects, according to Regulatory Legal, a law firm specialising in financial services...
Advisers have largely supported a High Court decision to allow a couple to pursue their IFA firm for extra compensation, even though it had already paid them £100,000 following a Financial Ombudsman Service (FOS) decision.
Tenet advisers will have their professional indemnity insurance (PII) excess cut by 50% on claims on advice given after they obtain their Statement of Professional Standing (SPS).
Accredited Financial Planning firms are to be offered wider professional indemnity insurance (PII) cover, including full legal liability, under a deal arranged by the Institute of Financial Planning (IFP).
IFA support group Tenet is offering its member advisers access to permanent professional indemnity insurance (PII) in what the group said was the first commercial deal of its kind.
The Financial Services Authority (FSA) has again pledged to leave the door open to the possibility of reintroducing a 15-year long-stop on client complaints, though it continues to doubt the benefit of doing so.