New criteria keeps cropping up and failures such as the collapse of Keydata and Arch Cru have hit professional indemnity insurers hard.

This year has also seen professional indemnity insurers raise their eyebrows – and potentially premiums – over how the regulator will view insistent clients and the advice handed out about pension freedom in the future.

This guide will ensure you understand the regulatory requirements for having professional indemnity insurance; what impacts the premium you are charged and how to make sure insistent clients do not add to your costs.

Supporting material produced by the FCA; Harriet Myles, an outreach officer from the Financial Ombudsman Service; Chris Hannant, director general of the Association of Professional Financial Advisers; Rory Percival, technical specialist for retail at the Financial Conduct Authority; and Umesh Puri, associate director of the professional indemnity division of Howden Insurance Brokers.