PI Insurance

Following developments in the business environment, we’ve become aware that PI insurers may be looking more closely at a few aspects as outlined in the following sub headings.

Insistent Clients;

We’ve seen questions on a PI proposal that relate to Final Salary transfers whereby they ask for the number of such transfers transacted on an insistent customer basis since the Pension Freedoms came into force in April 2015. It seems  the “insistent client” route is becoming of  increasing concern to insurers, and we cannot rule out that this concern may not spread to encompass broader aspects than just F/S transfers.

Annual reviews;

Turning to on-going service provision, one insurer now asks for confirmation that all reviews have been conducted at least annually. This strikes a chord with the regulatory approach that you need to be able to show that any on-going service is actually provided. The PI insurer may well now take the view that if you haven’t carried out due reviews then cover may not be there for a subsequent complaint.

Subject Access requests (SAR) requests;

These are requests that ask for a copy of the file, often with a cheque for £10 representing the maximum charge that can be made for supplying a copy of the records. It’s a grey area, but such requests clearly could be the precursor to a complaint being made, and as such it would be very sensible to check with your PI Insurer whether or not they require to be informed of the receipt of such requests – and if yes, what background information the insurer might require.