Brokers, is your own professional indemnity cover in order?
Arthur J Gallagher’s Ben Waterton reminds brokers that their own PI must be up to scratch.
The Financial Conduct Authority recently conducted a review into the professional indemnity policies for general insurance intermediaries.
This was to find out how effectively this market was functioning in terms of the availability of cover and its appropriateness when evaluated against the MIPRU handbook requirements.
Such a review is to be welcomed and its findings were very interesting - if not wholly positive.
The saying ‘always the cobbler's son that goes barefoot' springs to mind when
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