IBRC acts to simplify PI compliance for brokers.
The Insurance Brokers Registration Council is to approach insurers in a bid to simplify the way in w...
The Insurance Brokers Registration Council is to approach insurers ina bid to simplify the way in which brokers prove compliance with the
Insurance Brokers Registration Act rules on professional indemnity
cover.
IBRC councillor Simon Bolam said: "We are suggesting that insurers submit
a certificate to prove that an individual broker is compliant with the Act
and has sufficient PI cover. This would remove the necessity for the
accounts to be submitted for inspection."
Under the current ruling
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