Industry

Industry

PI insurance market tipped to turn mid-to-late 2021

Specialists say it’s the hardest professional indemnity insurance market for advice in 20 years, with annual premiums starting at $10,000. But a stabilised economy and improved compliance levels could see insurers come back into the fold and premiums soften in 2021.
Industry

Regulatory reform, but not as you know it

The ALRC’s financial regulation review won’t follow the normal template, lawyers say, as the focus will be more on structure than policy. This may mean a swing back towards more prescriptive regulation for advisers, but don’t hold your breath for a quick result.
Industry

Clitheroe flags advice gap

Consumer finance expert Paul Clitheroe, FPA chair Marisa Broome and CHOICE CEO Alan Kirkland highlighted the importance of financial planning and lamented cost burdens that kept ordinary Australians out of the advice system.
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