Broker wipe-out fears fuel Biba liability cap review

Brokers may have to consider putting a limit on their liability with clients, effectively capping their exposure, or face losing their businesses.

As part of its ongoing professional indemnity (PI) initiative, the British Insurance Brokers' Association (Biba) is gauging its members' views on the pros and cons of such a limitation.

Biba said it was concerned that some brokers could go under if they exceeded their PI limit. The association said it was already working with some smaller broker members