online

PI insurance and the FOS award limit - a further update

There have been a number of different reactions from PI insurers to the recent increase in the FOS award limit to £350,000 for claims brought for actions taken (or not taken) from 1 April 2019. We reported yesterday that we had received positive feedback about some insurers in the market whereas a small number had not yet defined their stance.

We are continuing to talk to the FCA about their response to firms who may not hold the full £350,000 cover for FOS award cases but, at the time of writing, we have not had any definitive guidance from them on how they will be treating these cases.

If you’re not a client, to read this content you must sign up for a free guest account

Clients of threesixty are kept up to speed with the latest regulatory, industry and technical developments via our regular news and opinions articles.

As well as being updated via the articles we publish to threesixty online, clients can specify to us what type of articles they want to receive (by category) and how frequently they receive them.

To try this service, simply register your details with us and we'll give you 3 months free and unlimited access to our news and opinions.