Liability Insurance For Advisers Explored With Marsh

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Financial Advice NZ is hosting a webinar in conjunction with insurance broker and risk adviser Marsh to explore the firm’s liability insurance programme and the levels of cover financial advisers and businesses may require.

Katrina Shanks, CEO of Financial Advice NZ, says Marsh’s 2020/21 liability programme maintains the coverage of its previous programmes but with a few adjustments to “…reflect financial advisers’ needs in these rapidly changing times, including Financial Advice Provider coverage in the future”.

Shanks says that Marijke von Molendorff, a corporate leader at Marsh, will provide claims examples to guide those watching Wednesday’s webinar on the levels of cover advisers should consider to protect themselves and their business.

Corporate Leader Finpro Wellington at Marsh & McLennan.
Marijke von Molendorff, Corporate Leader at Marsh & McLennan.

“In addition to this we recognise there is a need for a new liability programme to meet the requirements of the Financial Service Legislation Amendment Act 2019 and the inclusion of financial advice providers,” says Shanks.

“We will be providing members of this scheme an option to obtain FAP cover which will be required for every FAP which provides regulated financial advice once the legislation is enacted. This will be explored further in the webinar.

“There will be an opportunity for those not already in the liability programme to secure cover and the additional FAP cover.”

This webinar is being at 10am Wednesday 24 June – register here.