Risk v Reward: Claims against IFAs – how to avoid them and how to deal with them if they arise

Time: Registration and light breakfast 08:30am, lecture starts at 9:00am, close 10:00am

This session is aimed at IFAs, insurance brokers who act for IFAs and insurers of IFAs.

Learning objectives:
During the seminar we will discuss and consider:

• the risk landscape for IFAs – here we will consider some of the common causes of claims and current trends
• how to deal with claims – delivered in the context of a short case study;
• the importance of risk management; and
• the importance of PI insurance – how wide is your cover?

Speakers Biography
Liam and Laura are both senior lawyers at Mills & Reeve LLP and they work within the firm’s insurance practice:

Liam is a professional indemnity insurance and commercial disputes litigator. He specialises in defending claims against accountants, financial advisers, insurance brokers, solicitors and technology companies. He has a fast growing D&O (commercial disputes) practice and is regularly instructed to advise clients on insurance contract related issues. Liam is an experienced lawyer who always keeps his client's objectives in sight. Amongst his career highlights so far are defending a professional firm against claims worth in excess of £50m arising from investments in a UCIS; and defending an advisory firm against a series of claims brought by a group of professional footballers worth £20m arising from investment in property overseas and tax avoidance.

Laura specialises in defending professional negligence claims on behalf of insurers and their insureds. She acts for a wide range of professionals including solicitors, barristers, financial professionals, construction professionals and technology companies. Some examples of Laura’s recent successes include securing a drop hands settlement in a claim against a firm of accountants pleaded at half a million pounds; and concluding a £4 million claim against a firm of solicitors arising out of allegedly negligent tax advice for less than £300,000.