COMPLIANCE NEWS - FOR DIRECTLY AUTHORISED FINANCIAL ADVISORY FIRMS IN THE UK

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Excel spreadsheet of documents available to all subscribers. *Jan 2019*

 
 

Compliance News for IFAs - 41 - Spring 2019
Format: Printable PDF File - Size: 53kb - Virus Scanned: YES

Compliance News for IFAs - 40 - Summer 2018
Format: Printable PDF File - Size: 53kb - Virus Scanned: YES

Compliance News for IFAs - 39 - October 2017
Format: Printable PDF File - Size: 226kb - Virus Scanned: YES

PROFESSIONAL INDEMNITY INSURANCE

Professional Indemnity Insurance

Many successful IFAs have found securing quality professional indemnity insurance a challenging task recently when seeking a balance of price and protection.  It is not just premiums that are expected to increase this year but expect higher excesses as well.  We are also beginning to see new cover restrictions on segments of the high risks investment market.

The professional indemnity market for professional advisers of all types and sizes is historically the most volatile in the commercial insurance sector with capital flowing rapidly in and out.  Losses for professional indemnity underwriters in recent years have been unprecedented and many Underwriters with exposure to Arch Cru and Key Data have sustained such significant losses that they are reviewing their position in the PI market altogether.

Tempting as it might be, this is not the time for IFAs to cut corners when purchasing professional indemnity insurance.  In fact quite the reverse.  Many prudent IFA firms consider their Professional Indemnity cover to be their Insurance safety net.  The decision to utilise quality markets with good financial security that are committed to the sector is of paramount importance.   PI insurance experts such as Griffiths & Armour are a good starting place for you to find a personal service, which leaves you feeling confident that your firm is fully protected and supported by a Risk and Claims team that you can rely on.  

The details for the key contacts at Griffiths & Armour dedicated IFA PI Broker team are below.

To discuss your PI needs, please contact:

Peter Monks   T: 0151 600 2266    E: pmonks@griffithsandarmour.com                         

Matthew Didlick  T: 0151 600 2260     E: mdidlick@griffithsandarmour.com

Sarah Love T: 0151 600 2256     E: slove@griffithsandarmour.com

 

 

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