The professional indemnity issue

Advisers with large amounts of direct-offer structured product business on their books will likely s...

Advisers with large amounts of direct-offer structured product business on their books will likely struggle to find affordable professional indemnity (PI) insurance. Of seven PI insurers and brokers surveyed by Investment Week, only two are currently open for new business, although not all of those refusing to offer the cover are doing so exclusively down to concerns over potential structured product mis-selling liabilities. Of the few providers offering PI cover, head of public affairs at Aifa Tracey Mullins said many are simply excluding firms' structured product business from the polic...