Financial advisers who compensate clients for negligent advice following a Financial Ombudsman Service (FOS) award could find themselves sued for additional compensation following a shock High Court ruling. It had generally been accepted that a FOS award prevented claimants from…read more
Financial Advisers must contact clients about Arch Cru
The Financial Services Authority (FSA) announced in December 2012 that financial advisers will be obliged to contact any clients they advised about the CF Arch Cru Investment and Diversified Funds to ask if they want their cases reviewed. If clients…read more
Solicitors Regulation Authority sets out three year strategic plan
The Solicitors Regulation Authority (SRA) has announced its strategic plan for 2013-15 with a particular focus on moving from its old, rules-based approach to regulation with a risk-based approach. Richard Collins, SRA Executive Director, said: “The Strategic Plan sets out…read more
Brunel enjoys record solicitors’ renewal
With 220 new solicitors’ firms appointing Brunel Professional Risks as their professional indemnity insurance broker for the first time in 2012, Brunel believes it is one of the fastest growing professional indemnity insurance brokers for solicitors. Brunel advises a wide…read more
Courts offer clarification on negligent valuations and contributory negligence
Surveyors facing claims for negligent valuations from residential property lenders received clear guidance on the margin for error that courts are likely to find acceptable in two recent cases: Webb Resolutions v E.Surv and Blemain Finance v E.Surv. The cases…read more
RICS warns surveyors about retaining PII cover
With the latest official figures from the Office for National Statistics (ONS), showing that output in the construction sector has continued to fall during 2012, it is essential for professionals to ensure that they continue to be covered by professional…read more
Reforms designed to cut the cost of civil litigation to be reviewed says Judge
Parts of the new rules designed to cut the cost of civil litigation are to be reviewed by the judge responsible for implementing the reforms. Mr Justice Ramsey, charged with introducing the Jackson reforms (see Brunel News July), revealed that…read more
Innocent non-disclosure changes proposed
The risk of insurance claims not being paid due to innocent non-disclosure is major worry for corporate insurance buyers according to a recent survey of risk managers. Fortunately new disclosure proposals put forward by the Law Commissions could resolve the…read more
