Premiums soar for independent financial advisors’ PI as insurers dwindle
As the UK approaches a pandemic induced recession, advice firms are facing higher premiums as insurers that provide professional indemnity for advisors have significantly reduced after a series of regulatory changes, constraints and historical blunders. Insurance Times investigates what this means for insurers and IFAs – and whether brokers ...
Looking back over the years, there have been progressively fewer insurers providing professional indemnity (PI) cover for independent financial advisors (IFAs).
Ongoing regulatory changes in the defined benefit (DB) pension transfer market has led to many insurers exiting the IFA PI market altogether.
Read more…
(If you’re already a subscriber, please sign in here.)
Get access with a 14-day free trial
This article is usually available exclusively to subscribers.
For a limited period, you can enjoy all the benefits of an online subscription free for 14 days. Sign up now to read this article in full and to enjoy unlimited access to premium online content, a digital edition of the latest issue, plus an online archive of back issues.
Also, as a registered user, you will be able to -
- Access unlimited breaking industry news as it happens
- Sign up to a choice of daily and weekly newsletters