Practical Compliance Services Ltd  

                                                                                                      proactive compliance support

 

Professional Indemnity

PCS can assist in arranging competitive PI cover on behalf of its clients, we can also help ensure that renewal terms are likely to be favourable by assisting in managing your risks proactively on an on-going basis. If your Firm’s Professional Indemnity Insurance is approaching renewal you may wish to contact PCS.

In order that firms  benefit from this facility it is agreed with the PI brokers that PCS will provide, as detailed below, a minimum standard of compliance auditing on an annual basis:

A review of T&C arrangements, spans of control

Assessment of advisers KPIs and on-going competence

Risk Monitoring and supervision

A review of a sample of client files and the advice process

Complaints handling procedures

Recruitment procedures

A thorough review of compliance procedures and manuals

Remedial action follow-up

Provision of any new documents and manuals  

Hands-on support to rectify compliance action points

Regular contact to establish what/if any changes may be occurring at the firm.    

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