The Insurance Mediation Directive requires Firms who conduct non-investment insurance (term; travel; motor; mobile phones; medical etc) to have in place minimum PI of £1.36M (€1.5m) in aggregate and £900,000 (€1m) any one claim.
Last October the FSA announced that the minimum levels of cover were to increase to :
€1.68 m in aggregate, and
€1.12 m for any one claim
These changes are due to come into force on 1st March 2009
