The FSA is publishing a booklet aimed at giving IFAs a greater insight into the PII market - such as how to make a claim.

The product will give IFAs valuable information about how to improve their systems and present their risk more effectively to insurers.

The FSA director of firms David Kenmir said: "We want to help IFAs present their businesses in the best possible light. Experience picked up from our discussions with firms and with the professional indemnity market has shown that a good quality presentation to an insurer could make all the difference. We hope this booklet will help firms to provide comprehensive and relevant information to their Insurers."

As would be expected, issues that have attracted a high level of media interest such as split capital investment trusts and SCARPS (e.g. precipice bonds) are those that tend to give rise to varying levels of concern for underwriters. Insurers may still give quotes to firms who have written this type of business in the past because they consider other factors when they assess the risk a firm poses. Firms can help themselves by seeking guidance from insurers on which areas are of particular concern and consider how they can alleviate some of these concerns.

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