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DPB - PII limit of indemnity

Is your Professional Indemnity Insurance (PII) limit of indemnity €1,120,200 for each and every claim and €1,680,300 for all claims per annum?

To be granted a Designated Professional Body licence, a firm must have in place Professional Indemnity Insurance of €1,120,200 for each claim and €1,680,300 for all claims per annum as required by the DPB Rules Schedule 1. You should contact your insurers or brokers to ensure you have the correct level and terms of cover.

Under FSA guidelines we are required to ask for this figure in €'s, however providing your policy is equivalent to €1,120,200 at the date that you effected the policy, not at today's date, then you can answer Yes to this question.

Should you wish to check on past exchange rates, then please visit the Bank of England website to see daily spot rates against the Euro.

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