According to a report on gulfnews.com, it seems that insurance brokers in Dubai are still keenly awaiting the anticipated reform of the local laws that govern the conduct of their business. Concerns were heightened earlier in the year when one leading Dubai-based firm ran into financial difficulties amidst rumours that some of the firm’s clients had lost money.
In the opinion of one industry commentator, if brokers are to live up to the responsibility they have for their clients’ protection, there has to be a massive increase in the level of professional indemnity insurance cover that they currently hold. Further, professional indemnity insurance limits should be set in line with the amount and the type of business that individual brokerage firms conduct.
2011-08-27 08:29:20 Categories: PI Insurance by Professional Indemnity Insurance Company |