Firing Line: Neil Pointon

He said: "So people are getting a lot more bang for their buck.

“Right now there is a large number of insurers in the market who are still interested in writing this class of business and while that continues to be the case, competition will continue to keep rates relatively low.”

However, this will soon change. According to Mr Pointon, advisers should expect higher premiums in the next year as a result of a strong Euro and a hardening of general insurance market conditions.

But how can IFAs protect themselves in this atmosphere where clients are eager to place the blame? Mr Pointon said: “The prudent ones may consider taking out more cover. There are minimum limits for indemnity required. To date, the vast majority of people tend to only buy the minimum. Well, now it may be a prudent time to consider upping that limit of indemnity.”

He also believes the FSA could also do more to reign in the volume of complaints: “If Hector Sants gave me an hour of his time, I would try and impress upon him that we do not need any more red tape than we have already got. We just need better regulation, not more regulation.”

Mr Pointon said the key to these improvements lies in applying some foresight to regulation "instead of having the Pensions Review a number of years after products have been sold".

He said: "The FSA needs to be more proactive in product regulation as to what products should be sold, as opposed to creating more red tape around how they are sold.”

So after 20 years working in London and engaging with the FSA, retail distribution review and Pensions Review, has the spud picking, hay-baling country boy turned into a City boy?

Not likely, said Mr Pointon: “I still go back to Leicestershire at the weekends, even today.”

1985: General Accident Insurance, household claims handler

1987: Pointon York Ltd, general insurance account handler/ technician

1989: Pointon York Voss Ltd (later to become PYV Ltd), 1997 director, 2005 chief executive