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Brokers' professional indemnity - Trouble ahead.
(From Post Magazine)
Last October, Lloyd's professional indemnity broker PYV warned intermediaries they could be woefully under-insured if they only purchased the Financial Services Authority's recommended minimum limits. It therefore urged brokers to take advantage of the soft market conditions and take out more cover.
Several other commentators agree and insist that claims are set to rise. But are brokers really at risk or is this just scare-mongering? It could be argued that since brokers are now subject to FSA regulation they have tightened up practices and so are less at risk from litigation.
However, Shaun Godfrey, head of sales and ...
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