PI access for IFAs under way
Independent financial advisers will be able to access professional indemnity insurance from a new c...
Independent financial advisers will be able to access professionalindemnity insurance from a new captive insurer from September.
Project Umbrella, as the initiative is known, has been set up by
specialist financial services solicitor ProAct. The offshore captive
already has reinsurance in place and hopes to start writing policy
wordings from July.
The captive will allow IFAs to become part of one insured company or offer
them insurance in the same way as any other insurance company. IFAs that
choos
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