Hiscox has warned secondary intermediaries that they need to buy professional indemnity cover ahead of the new FSA regime.
Although Hiscox said the take up of its policy has been encouraging, it says the potential market is enormous.
Hiscox Professions underwriting director Gary Head said more needed to be done to persuade secondary intermediaries to get cover.
He said: "There is still much to be done, and this presents a great opportunity for the broker community.
“They should be reviewing their existing client databases to see if any of their clients fall into the secondary intermediary category."
