Consultation: Changes to the Professional Indemnity Insurance (PII) Scheme Rules and Minimum Wording to Cover the Insurance Act 2015 and Alternative Business Structures (ABS)
09 May 2017
CILEx Regulation is consulting on a number of changes that are required to bring the CILEx PII Rules and Minimum Wording up to date ahead of the proposed application by CILEx Regulation on behalf of CILEx to become a Licensing Authority in 2017.
The Insurance Act 2015 came into effect on the 12 August 2016 and changes are required to the Minimum Wording to bring them in line with the expectations of the Act. We are also seeking to formalise changes previously agreed with our Qualifying Insurers to our Minimum Wording. Whilst we previously consulted on changes to extend CILEx PII Rules to cover Alternative Business Structures (ABS) in 2016, we believe it is appropriate for these changes to be referred to again for completeness.
This consultation will run for 4 weeks, closing on 2 June 2017.