Independent Financial Advisers

Professional Indemnity Insurance is vital for any Financial Services professional but in particular Independent Financial Advisers who need cover to fulfil their regulatory responsibilities as well as to protect their business from increasing numbers of claims.

Our limits of indemnity are compliant with the Financial Conduct Authority offering £1.75 million in the aggregate which is more cover than specified in the FCA rules. You can of course request higher levels of cover but there will be additional queries raised with you in respect of this.

However as Insurer cover holders we are looking to work with compliant low risk Intermediaries with a good standing and experience in the financial services market, providing professional services in the low risk investment sector, who are relatively free from complaints which will reflect the premium and excess levels quoted.

In all we understand the needs of the IFA and the necessity to work with Insurers who have the capacity to work in the financial markets, which as we know have been the subject of poor publicity over the last decade.

We won’t provide instant on-line quotes for this class of business but you can download either a fillable MS Word or PDF form which can be completed on your computer, saved and emailed to us so we can send you a formal response as soon the case has been underwritten by our PI team (which is normally within 24 hours) subject to all the relevant information being received.  Alternatively you can submit to us by fax, post to obtain a quotation.

Cover Details »

PI Insurance for IFA’s includes:

  • Cover for claims arising from your errors and omissions
  • Cover for awards made by the Financial Ombudsman Services
  • Libel, Slander, Defamation
  • Breach of data protection
  • Loss of clients documents
  • Court attendance costs – if you have to attend any court hearings in connection with a claim
  • Employee dishonesty – loss of money or property (other than that of employees) as a result of an employee’s dishonesty
  • Cover for costs incurred for representation at tribunals and hearings
  • We will exclude certain investment products which is explained in the policy wording

Please note – Our quotations and other documentation will be sent to you electronically so please provide a regularly used email address when submitting your proposal form.  If you are purchasing any Insurance on-line and/or receiving documentation electronically, you should make a determined effort to carefully read the documentation sent to you.  Professional Indemnity policy wordings can differ widely and you should always refer to your policy schedule, take note of any significant exclusions in the summary of cover and read the policy wording in detail to establish that cover is suitable for your business needs but just as importantly that your business can also meet the policy terms and conditions.