https://financialnewswire.com.au/financial-planning/faaa-calls-for-changes-to-insolvency-laws-amid-cslr-failures/ A specialist news site for financial advisers, fund managers, superannuation executives and suppliers. Mon, 03 Mar 2025 23:32:11 +0000 hourly 1 https://wordpress.org/?v=6.9 https://financialnewswire.com.au/financial-planning/faaa-calls-for-changes-to-insolvency-laws-amid-cslr-failures/#comment-6958 Mon, 03 Mar 2025 23:32:11 +0000 https://cea.demo-sites.me/?p=156962#comment-6958 A simple solution would be to structure PI cover so that premiums are always paid 3 years years in advance. This ensures that if a financial firm becomes insolvent or shuts down, including in cases of illegal phoenixing, the advice provided would still be covered under the PI policy. The advance payment would effectively secure run-off cover, which is already built into the policy. stops this issue of red dress of client that fall through the cracks.

]]> https://financialnewswire.com.au/financial-planning/faaa-calls-for-changes-to-insolvency-laws-amid-cslr-failures/#comment-6956 Mon, 03 Mar 2025 22:19:41 +0000 https://cea.demo-sites.me/?p=156962#comment-6956 ASIC / Govt approved Illegal Phoenixing 

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