52 min
Expats Insurance The Practical Protection Podcast
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- Business
Hi everyone, we have Matt Rann back with us for the first time this season and we are taking a look outside of the UK. I speak to quite a lot of people who live or work abroad for extended periods of time and this can really reduce the options for arranging insurance with a UK insurer.
It’s important to make sure that you know your permissions before advising anyone that is not resident in the UK. This will be a mix of your compliance and your professional indemnity insurance. As an example, at Cura I know that my permissions are that I can provide advice to someone that is a UK citizen and/or someone that has a financial liability within the UK. If someone doesn’t fall into these categories, there needs to be further questions about why they are wanting to use a UK advice firm, rather than someone in their country of residence.
There’s a lot to consider!
The key takeaways:
Financial liabilities in the UK can range from mortgages, to dependent children, to parents that are dependent on care home fees, and more.Make sure that you have a clear procedure to check clients against UK sanctions.Two case studies of expat cover using an international insurer and a UK insurer.
Next time Stephen Baldry from UnderwriteMe is set to join me to talk about the way that the advice market has been changing over recent years.
Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members.
If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.
Hi everyone, we have Matt Rann back with us for the first time this season and we are taking a look outside of the UK. I speak to quite a lot of people who live or work abroad for extended periods of time and this can really reduce the options for arranging insurance with a UK insurer.
It’s important to make sure that you know your permissions before advising anyone that is not resident in the UK. This will be a mix of your compliance and your professional indemnity insurance. As an example, at Cura I know that my permissions are that I can provide advice to someone that is a UK citizen and/or someone that has a financial liability within the UK. If someone doesn’t fall into these categories, there needs to be further questions about why they are wanting to use a UK advice firm, rather than someone in their country of residence.
There’s a lot to consider!
The key takeaways:
Financial liabilities in the UK can range from mortgages, to dependent children, to parents that are dependent on care home fees, and more.Make sure that you have a clear procedure to check clients against UK sanctions.Two case studies of expat cover using an international insurer and a UK insurer.
Next time Stephen Baldry from UnderwriteMe is set to join me to talk about the way that the advice market has been changing over recent years.
Remember, if you are listening to this as part of your work, you can claim a CPD certificate on our website, thanks to our sponsors Octo Members.
If you want to know more about how to arrange protection insurance, take a look at my 13 hour CPD Protection Insurance in Practice course here and 1 hour CPD Protection Competency Exam here.
52 min