INSURANCE BROKERS INSURANCE UPDATE
The Financial Conduct Authority (FCA) has recently highlighted that some Principal firms do not have the appropriate Professional Indemnity Insurance (PII) in place.
The FCA have said that where PII is required, Principals must have a policy that complies with regulations.
They’ve also advised that policies should not include exclusions or excesses that significantly limit indemnity.
To ensure your PII is fully compliant and offers the right protection, it’s essential to work with a specialist. Even if renewal isn’t due now, we strongly recommend reviewing policies to ensure they are fit for purpose.*
Read More: MIPRU 3.2, IPRU-INV 13, FT Adviser Article
Contact us today at steve@doainsurance.co.uk for a quotation or a review.
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*Source: FCA Regulation round-up – January 2025.