‘Rothschild’ avoidance challenged?

We have received a letter from a sole practitioner Independent Financial Adviser (IFA) alerting the sector to the use being made of the 1998 decision in Rothschild Assur v Collyear and possible counter-measures. This case resulted in a High Court ruling that a professional indemnity claim was valid, where notification had been made to the underwriter within the policy terms of circumstances that may give rise to a claim instead of would , and that claim could include any costs incurred with third parties in effecting the pension review.