PI Insurance
Should more MPS providers work on ‘reliance on others’ basis?
Potential legal and PI cover benefits for advisers compared with the traditional ‘agent as client’ approach
PI costs take heaviest toll on small firms
Advisers regularly report that premiums ‘have become prohibitive’
Shrinking DB transfer market worries advisers
But could a smaller sector be a good thing? Or should pension freedoms just be scrapped altogether?
Advisers worried higher levies will hurt clients
And impact their profitability as current climate is seen as unsustainable
Does the tax advice sector need mandatory PI insurance?
Standards are ‘typically high’ but ‘issues can arise within a minority of mainly smaller firms’