Balancing act.
The higher minimum requirements for professional indemnity cover under GISC will be another awkward ball for brokers to juggle. Rachel Gordon says it will pay to shop around.
The General Insurance Standards Council means a whole new ball gamefor thousands of brokers and intermediaries and, for some, higher limits
of professional indemnity cover will be yet another awkward ball to
juggle.
This September, the crucial rule 42 will be implemented meaning insurers
will only be able to trade with intermediaries who are members. By this
time, the Insurance Brokers' Registration Act is likely to have been
repealed and to have created a level playing field where brokers and
inte
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