Place your business in the strongest possible position.
Recent months have seen a steady stream of insurers re-assess their participation in the pensions transfer market, while others have stipulated they will only cover firms conducting low volumes of DB transfers.
While we're yet to see PI insurers exit the market wholesale, a number of firms are having difficulties obtaining suitable cover. Some activities are under increased regulatory scrutiny making finding affordable cover more challenging than in years past, but whatever areas you advise upon, robust compliance support is a must.
In recent months, we’ve been working closely with our Members to develop compliance plans to address the regulatory risk posed by DB transfer business and firms have seen reduced premiums in light of the robustness of our control procedures.