The Association of Independent Financial Advisers (AIFA) has called for better dialogue between regulators and the professional indemnity market.
The call came in its response to the Financial FSA consultation paper CP169: Professional Indemnity Insurance for Personal Investment Firms.
Paul Smee, Director General of AIFA, said: "By publishing CP169, the FSA has demonstrated that it understands that there is a problem for IFAs in obtaining PI insurance on realistic terms.
"IFAs desperately need a better operating PI market. That can only be achieved if the PI industry's communication with the FSA improves."
