Insurers front ASIC over accountants’ licensing
Personal Indemnity insurers have raised concerns with ASIC that accountants under the limited licensing regime don’t understand their PI policies or what they are insured for, according to a dealer group. Paradigm Group managing director Patrick Nalty said given the fact that the licensing regime is still relatively new and the insurers are yet to have any claims experience with licensed advisers, they don’t have a good idea of what’s happening in the space.