The market has also seen premiums rising due to retrospective action over major failures such as Arch Cru by the FSA. The issue was put into sharp relief this year as adviser network Honister blamed its insolvency on overly high PII costs.

This guide, as well as setting out the whys and wherefores, will give you ideas about how to reduce your premium and get the right cover.

Supporting material is provided by Teresa Brewer, Sales and Services Director, Aon UK, which began providing PII to financial advisors earlier this year.