In this IIL financial services webinar, Matthew Connell will examine developments in the professional indemnity market, and what this tells about compulsory insurance as a regulatory tool.
Professional Indemnity requirements for regulated professionals have been standard for decades. They are a way of applying private sector standards of risk mitigation for regulated professionals as an additional line of defence, protecting statutory compensation schemes. However, recent developments in the market for financial advisers have raised serious questions over whether this approach to regulation delivers good outcomes for consumers.
This seminar will examine whether professional indemnity insurance is still a useful regulatory tool, or if radical change is needed to provide the best consumer outcomes in future.
Dr Matthew Connell, Director, Policy and Public Affairs, Chartered Insurance Institute