Industry split over PI pool for brokers
The insurance industry should look to set up an assigned risks pool (ARP) for brokers that may find ...
The insurance industry should look to set up an assigned risks pool (ARP) for brokers that may find themselves unable to obtain professional indemnity (PI) cover as required from 14 January 2005 under Financial Services Authority (FSA) regulation, according to independent PI consultant Roger Flaxman.
The PI market for brokers is already stretched, with limited capacity and only a handful of providers. "It would be a smart move to set up an ARP," said Mr Flaxman, "as brokers can have unfortunate
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