A piece of the PI.
For those struggling to find professional indemnity cover now that premiums are rocketing, trade organisations and broker networks could help brokers to get stuck in, as Simon Threadgold finds out.
Some independent financial advisers are having a hard time gettingprofessional indemnity cover. Alleged mis-selling of pensions and
endowments has caused their premiums to rocket and their general insurance
colleagues are now suffering the same squeeze, though not to the same
degree.
PI premiums for brokers are rising relentlessly. Over the past year, they
have shot up by 20% - 100% and more in some cases. Price is not the only
worry. Just getting a renewal is good news for some brokers and this
un
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