PROFESSIONAL INDEMNITY INSURERS

Professional Indemnity (PI) Insurance is a requirement for regulated firms and there is widely differing perspectives of the services provided throughout the mortgage industry. Contact Telos to see how we can share our experience and expertise in getting the best out of your PI insurer.

Good communication is the key to a successful relationship with Professional Indemnity (PI) Insurers for mortgage and general insurance firms. The sector has, so far, not experienced any crisis of misselling but the credit crunch is testing complaint and dispute resolution. The Association of Mortgage Intermediaries has put on record the following statement-

"Those [mortgage brokers] who have kept full documentation to demonstrate the client was fully informed of the details involved and that the advice was suitable will be best placed to defend themselves and keep costs down."

The Telos Compliance service can assist firms with their relationship with PI Insurers and advise on complaints processes.