Webinar - ICOBS - are you sure you are doing enough to ward off PI claims?

Thursday, 20 August 2020
12:00 pm – 1:00 pm
    • Branko Bjelobaba FCII

It is very clear from the FCA’s ground-breaking test case on the failure of insurers to pay out on non-damage business interruption insurance claims that many of them cite the clear accountability of brokers in the consideration of clients’ demands and needs, the advice that they gave and the explanation as to what is and is not covered. However, in all the 65 events I have done for CII local institutes during lockdown, I do not dispute that it is the insurers’ interpretation of their wordings that is at issue here and not the advice given by brokers.

Whilst the judgement won’t be handed down until mid-September there is an immediate exposure to brokers with the costs of PI cover going through the roof and the potential for claims to be made against brokers should the FCA not secure a conclusive win. This one-hour event will highlight the issues for brokers all of whom will have arranged these covers for clients (and some will be classed as co-manufacturers under PROD) and encourage them to reassess their advice process under ICOBS and their overriding professional duty to clients.

Learning objectives

By the end of this webinar you will gain insights into:

  • The threat to brokers in terms of the advice process;
  • ICOBS and how to ensure your sales process is robust (demands and needs, suitability, advice/personal recommendation, explanation of cover and summaries of cover)
  • Other ICOBS and IDD requirements - compulsory training, marketing materials, product oversight and governance, conflicts of interest and what constitutes regulated introducing activity.

It is relevant to all client-facing staff and the firm’s senior managers and anyone with an interest in general insurance.

Speaker bio

Branko Bjelobaba FCII has worked for 32 years across the sector and latterly at PwC and GISC and has led his own consultancy practice for 16 years. He works closely with BIBA (and has published its compliance manual since 2004) and the CII and has provided many well-received (even entertaining!) training events throughout the UK. He is a recipient of the Thomson Reuters Compliance Personality of the Year Award and the London Market People Award for Legal and Compliance.

During lockdown Branko has provided over 60 CPD events and the feedback has been superb:-

“Branko's webinars are certainly one of the best. He can present quite a dry and relatively boring subject with such a passion and engages his public constantly. His events have very valuable content and presentation materials are well prepared and comprehensive.”

“Branko has energy and enthusiasm and character which led to an engaging presentation. I would definitely sign up and recommend others do too for other topics/webinars led by him.”

“The content was excellent and brilliantly presented - most enjoyable webinar yet.”

“Very informative and well-structured webinar from a very engaging presenter. Well done!”

CII Accredited

This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.

1 hour's CPD can be claimed for this event if relevant to your learning and development needs.

It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.