What does PII Cover?
Inappropriate Product Recommendation
Advising a client into a short-term deal or interest-only mortgage without explaining implications.
Incorrect Affordability Assessment
Failure to adequately assess a borrower’s ability to repay the loan, or misrepresentation of income.
Poor Commercial Mortgage Advice
Recommending unsuitable terms or structuring a deal without explaining lender requirements.
Regulatory Investigation or FOS Complaint
Complaints escalated to the Financial Ombudsman Service or scrutiny from the FCA trigger legal defence needs.
Errors in Mortgage Advice
Failure to consider fixed vs variable rates, affordability checks, or future interest rate sensitivity.
Mortgage Advisors
At WK Professional Risks, we specialise in Professional Indemnity insurance for mortgage brokers and advisers, including directly authorised firms and appointed representatives. Whether you focus on residential, buy-to-let, commercial, or specialist lending — we work with insurers who understand your advice risk, your FCA obligations, and your business model.
What we offer
01
London Market Access
We place risks with insurers who specialise in FCA-regulated advice — including lenders, networks, and DA mortgage firms.
02
Policies Built for Mortgage Advisers
We review and compare wordings to ensure they meet the FCA’s requirements, including adequate limits, continuous cover, and definitions broad enough to capture your regulated activities.
03
Support with Complex or High-Risk Advice Areas
We advise brokers operating in the commercial or bridging space, or handling complex lending structures — where advice and lender exposure can quickly escalate.
04
FOS & Regulatory Defence Expertise
We help ensure your PI policy responds early to FOS complaints and any FCA involvement — with access to experienced legal defence teams.
05
Responsive Claims Support
Should a claim arise, our team ensures you’re represented clearly and accurately from first notification through to resolution.