Studio 61 Wealth Management has a significant Professional Indemnity insurance policy. The Financial Conduct Authority requires all firms providing regulated financial advice to have insurance in place to protect clients.
The purpose of the policy is to cover claims from clients if Studio 61 Wealth Management Ltd has provided poor advice.
The main elements of the policy are:
- Maximum cover for any individual claim £1,250,000
- Maximum cover for all claims in any one year £1,850,000
- Underwritten by AmTrust Europe Ltd
- Covers the claimant in the event of negligence or fraud by Studio61 Wealth Management
- Covers awards made by the Financial Ombudsman Service up to a maximum of £160,000
- Covers losses related to loss of documents – this is particularly relevant when considering the handling of paper securities.
Our current policy is underwritten by AmTrust Europe Ltd. AmTrust Europe Limited Registered in England and Wales. Company No. 1229676. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm’s reference number 202189.Registered office: Market Square House, St James’s Street, Nottingham, NG1 6FG. Member of the Association of British Insurers.
The details of this policy can be seen in linked documents below.