Griffiths & Armour warns broker PI “not fit for purpose”
The broker urged brokers to re-examine their own PI cover as it responded to the FCA thematic review into insurance intermediaries’ professional indemnity.
Specialist professional indemnity (PI) broker Griffiths & Armour has urged fellow brokers to examine their PI coverage closely.
Carl Evans, partner and managing director, at the professional risks division, warned that in some cases: “The products are not really fit for purpose.”
The comments follow on from the FCA’s thematic review into insurance intermediaries PI.
That review raised concerns around:
Exclusions surrounding the suitability of the insurer Exclusions around the use ofOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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