Eleven percent of people are including online passwords in their will, leading to an explosion in the number of cases of fraudsters targeting the estates of the deceased for online assets, such as bank accounts, according to a report in…read more
Solicitor accused of negligence in witnessing a transaction
The risks inherent in a solicitor witnessing a client’s transaction are brought home in a case where the Master of the Rolls ordered the retrial of a professional negligence case in which a solicitor was alleged to have failed to…read more
The FSA warns IFAs to check PII cover in RDR guide
The Financial Services Authority (FSA) advises IFAs that want to offer independent advice to “talk to their professional indemnity insurer at an early stage to ensure cover will be available for all retail investment products” in a newly published FSA…read more
Broker blamed for fire at client’s premises
An insurance broker was effectively blamed for causing a serious fire at its client’s premises in a recent legal case that highlighted the risks faced by brokers in advising their clients on the duty of disclosure and of providing risk…read more
Legal Ombudsman to name firms with serial complaints
The Legal Ombudsman has announced that it will name law firms and lawyers where there is a ‘pattern of complaints’ against them, from April 2012, according to a report in the Law Society Gazette here. Being named by the Legal…read more
£18 million damages award following negligent valuation case
Drivers Jonas, a professional surveying firm was been ordered to pay £18.05m in damages by the courts in September after being found liable for negligently overstating the value of a factory outlet retail centre in Chatham Historic Dockyard. The case…read more
Are you ready for BIM?
Building Information Modelling (BIM) is rapidly growing in importance in the construction industry, but with issues of copyright and liability currently unresolved, firms need top quality advice to ensure that their Professional Indemnity Insurance (PII) arrangements are watertight when working…read more
Renewing your Professional Indemnity Insurance
For many firms their 2010 renewal was a slow, expensive and tiring experience with many struggling to secure a competitive quotation… If you feel your firm have been judged arbitrarily and without being understood by the insurance market, this is…read more
FSA considered restricting access to sophisticated investment offerings
The Financial Services Authority (FSA) considered restricting access to products such as Exchange Traded Funds, Structured products and Life Settlements Funds according to information revealed by New Model Adviser® magazine, following a Freedom of Information request to the regulator. New…read more
£54 million Arch Cru compensation package may lead to more claims against IFAs
Investors in Arch Cru products received letters in early November 2011 setting out the compensation they will receive following the failure of the investment firm in 2009. Most are expected to receive around 70{0a6a65c996ed4169444354e707b897cdb00dbefc1d0429e8febb9bf11027ba53} of their losses, leading to suggestions…read more
