Could passing written exams mean better PI rates?

01/02/2010

Written by Neil Pointon

Those advisers who take written level-four Qualifications Credit Framework (QCF) exams may benefit from doing so when it comes to purchasing professional indemnity (PI) insurance, it has been suggested.

Speaking to Money Marketing, PYV CEO Neil Pointon claims that if there can be an argument that passing written exams can be seen as "a better route to higher qualifications, then underwriters will want to look to reflect that".

Those advisers, he suggests, could find that more favourable PI terms are offered to them.

However, it was stated that professionals wishing to achieve this standard of the QCF through alternative assessment are unlikely to be penalised for doing so as "it would still hope to be an effective qualification".

Such comments come as Keith Richards, group distribution and development director of the Tenet Group, recently told CityWire that advisers are increasingly looking to change their business models ahead of the introduction of the Retail Distribution Review.

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