Policy Details : Specimen Policy : Proposal Form : Frequently Asked Questions
Claim Notification Guidelines : Claim Notification Form : Matters of Interest

The Financial Practitioners Professional Indemnity (FPPI) programme is intended to cover the individual members of IFPAS, for loss on account of a claim made against the individual arising out of wrongful act whilst providing services as a representative of a financial adviser. The policy may also cover the individual for costs incurred in defending criminal proceedings or an investigation into possible violations of law or regulation initiated by any governmental body or self-regulatory organization.

Click here to download the 2008 (1 Jan 2008 to 31 Dec 2008) FPPI Proposal Form

POLICY DETAILS

The Cover - (Inception Date : 1 January, 2008)

1. The Financial Practitioners Professional Indemnity policy covers only professional services regulated by the Financial Advisers Act 2001, as specified in the Second Schedule of the Act. The professional services regulated by the Act include the sale or promotion of or advice with respect to investment products and collective investment schemes within the meaning of the Securities and Futures Act 2001 and contracts of insurance with respect to life insurance polices. If the Applicant is engaged in any other financial planning activity and requires cover for those activities under the policy, please advise.
   
2. Sum Insured: The IFPAS programme for all members that elect to take up insurance
   will have a total aggregate sum insured of S$5,000,000.00
   
3. The sum insured for each member is S$100,000.00 The annual premium is stated
   below.
   
4. Annual premium is determined by reference to your annual commission. For example,
   if your total annual revenue for 2006 is S$160,000.00 the premium payable is S$184.00
   per annum.
   
5. Excess: The minimum excess for each member is S$2,500.00 each and every Loss
   

Premium Payable

Click here to download the Premium Payable rates.

For more information: email membership@ifpas.org.sg or call 6535 1221

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MATTERS OF INTEREST

An Advisory Service or a Sales Business? The Business Times, Friday, January 9, 2004 (Advisory.Service.pdf)

Investors will soon have recourse to mediation centre Weekend BT, January 17-18, 2004 (Investors.pdf)

Rookie HK investor sues adviser, and wins The Business Times Singapore, Friday, March 12, 2004 (Rookie.HK.Investor.pdf)

How to separate the fresh from foul Weekend BT, January 31–February 1, 2004 (Separate.pdf)

When silence isn’t always golden The Straits Time March 1, 2004 (Silence.pdf)

Wrong ideas about financial planning Weekend BT, April 17-18, 2004 (Wrong.Ideas.pdf)

Get Tough on rogue investment executives Streats, May 6, 2004 (Get tough on rogue investment execs.pdf)

Hong Kong Investors wins 3m over row with advisors (HK Investors wins 3m over row with advisers.pdf)

Consumers’ Top Insurance Grouse: Policy Mis-selling The Straits Time, Friday, July 30, 2004 (FPPI-Mis-selling.pdf)

Investor sues Citibank for professional negligence. The Straits Times, Friday, September 3, 2004(Citibank.PDF)

 

 

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