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Extended exposure

Professional pensions advisers have a lengthy exposure to claims against them, so what can they do to protect themselves, ask Julian Miller and Sara Robertson

3 December 2014

As advisers to professionals and their insurers, we have noticed a recent upturn in claims against advisers to trustees of pension schemes involving stale allegations. The main targets are actuaries and solicitors. Invariably, advice was provided many years before the claim emerged and this not only raises practical evidential difficulties for those involved, but means that limitation can be a thorny issue.

For insurers, it can mean paying a claim that was not foreseen and not adequately priced into recent premiums. Standard claims-made wordings are premised upon the fact that claims usually emerge within six years of the relevant events. Claims which emerge 10 or 20 years after the relevant events are closer to the model applicable for occurrence-based underwriting.

Equal pension provision

A long-running theme is the failure to provide properly for the equalisation

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