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Talkback

The FSA has given the Falcon group a waiver for its PI cover. Will this open the floodgates for more firms?

“Yes, I don&#39t see why not. I see no problem with firms self-insuring, provided that firms have sufficient capital adequacy.”

John Crayden, Fleet Mortgage, Insurance & Finance services “No, I don&#39t think it is a good idea to grant waivers for this kind of cover. PI is important and people need to have adequate cover.”

Peter West, Fiveways Life and Pensions

“Yes, this case will set a precedent. Once a good case has been accepted by the FSA, there will be grounds for the others to be successful.”

Paul Tolfree, Savoy Financial Services

“No, this will not change things. The whole industry needs to be deregulated- it&#39s a farce.”

Brian Anderson, Fisher Financial

“Yes, I think there will now be a change. Hopefully, there will now be a change for the smaller IFA in the future.”

Bob Windust, First Option

“Yes, I think this will change things. We could be faced with the same situation ourselves when our cover comes up for renewal. We have been led to believe the FSA will be sympathetic.”

Stephen Hopkins, Firth & Scott Financial Services

“Yes, this can only be a good thing. Maybe if more IFAs self-insure, then the market will open up for more competition between brokers.”

Michael Griffiths , MG Care Executive

“No, I think the FSA assesses on a case by case basis and this will more than likely a one off.”

Martin Maloney, M&P Financial Consultants

yes 63%

no 37%

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