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Will Keydata affair lead to soaring PII premiums for financial advisers?

In the aftermath of the Keydata insolvency, at least two questions are being asked.

Having paid out substantial compensation to Keydata investors, the Financial Services Compensation Scheme is now seeking to recover those payments from the financial advisers who acted as Keydata distributors. But will those advisers’ professional indemnity insurers agree to cover them? And if so, wi » read more

11/11/2011 Categories: Professional Indemnity Insurance by PI Insurance Company
Claims against NHS highlight need for Professional Indemnity Insurance

According to a report published in The Daily Telegraph recently, professional indemnity claims against the NHS have increased by 30% since the beginning of the year. In monetary terms, such claims have cost the NHS some £863m in compensation and £257m in legal fees.

Whilst the NHS is obviously an exceptional organisation in terms of its size and scale, these statistics have led some » read more

20/10/2011 Categories: Professional Indemnity Insurance by PI Insurance Company
New e-trading platform to provide instant, location-specific, PI Insurance

Specialist underwriter Dual Corporate Risks has opted for Pitney Bowes’ Risk Data Suite to incorporate location-specific risk factors in its new e-trading platform. Brokers will now be able to provide instant quotes for business clients that reflect the particular risks associated with each client’s location.

According to Dual’s head of e-business, as reported on, t » read more

11/10/2011 Categories: Professional Indemnity Insurance by PI Insurance Company
Professional Indemnity Insurance critical for investor protection according

Dyer & Blair Investment Bank, one of Kenya’s leading stock brokerage firms, has called for a standardisation of procedures to reduce the incidence of fraud right across the financial services sector. And, as reported on, this call follows a number of fraud allegations in which the firm has been named.

According to Dyer & Blair’s Chairman, the cases in question are already » read more

10/10/2011 Categories: Professional Indemnity Insurance by PI Insurance Company
PII cover included in new insurance product for the plastics industry

According to a report on, insurance company Travelers has introduced an insurance product designed to meet the specific range of risks faced by the plastics industry. In the view of Travelers UK general manager, the industry is now so heavily involved in all areas of technological development that insurers need to have a particular understanding of the unique risks and emerging is » read more

08/10/2011 Categories: PI Insurance by Professional Indemnity Insurance Company
Manxman with Professional Indemnity Insurance expertise joins IFS

Manxman Bryan O’Connor – one of very few insurance professionals on the island to be a London Market Certificate holder – has been appointed to lead the new General Insurance Division that has been set up by Island Financial Solutions (IFS).

In this new role, which has an island-wide remit, he will be responsible for developing bespoke offerings for businesses and other organisation » read more

07/10/2011 Categories: Professional Indemnity Insurance by PI Insurance Company

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