Appeal court's 'landmark decision' alleviates PI market pressure
The Court of Appeal’s decision to rule against the right of claimants to accept a pay-out awarded by the Financial Ombudsman Service before suing for the balance of loss in court will boost the embattled professional indemnity market, according to law firm CMS.
The appeal court overturned the High Court's decision in Clark v In Focus Asset Management, in which the claimants complained to the FOS of negligent investment advice given by the financial advisory
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