1. FSA, Financial Services Authority fines Black Rock £9.5 million for failures to properly ring-fence client money deposits.
After investigation by the FSA it was suggested that up to £1.3 billion of client money could have been lost.
2. Many businesses including in the insurance industry have been refused business loans that have been applied for over the last 12 months. Brokers reported that expansion loans were very hard to come by at present.
3. Many insurance companies who are offering solicitors professional indemnity insurance are looking to give 2 year covers to the profession as the break up of the ARP comes into force in 2013.
4. Professional Insurance Agents CEO, Graham Hearsey said he welcomes the idea of insurers offering PI Insurance over a 2 year period and suggests this could be extended to other classes also.
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