Related provisions for MIPRU 3.2.7

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IPRU-INV 13.1.10RRP
If the firm is an IMD insurance intermediary, whether or not it is also an exempt CAD firm, the appropriate minimum limits of indemnity per year are no lower than: (1) EUR 1,120,200 for a single claim against the firm; and(2) EUR 1,680,300 in the aggregate.[Note: Article 4(3) of the Insurance Mediation Directive]
IPRU-INV 13.1.12RRP
If the firm is both an IMD insurance intermediary and an exempt CAD firm that maintains professional indemnity insurance under 13.1A.4(1)(b), the appropriate additional limits of indemnity to 13.1.10R per year are no lower than: (1) EUR 500,000 for a single claim against the firm; and (2) EUR 750,000 in the aggregate. [Note: Article 67(3) of MiFID and article 31(2) of the CRD (see also rule 13.1A.4)]
IPRU-INV 13.1.13RRP
If the firm is not an IMD insurance intermediary or an exempt CAD firm, then the following limits of indemnity apply: (1) if the firm has relevant income of up to £3,000,000, no lower than £500,000 for a single claim against the firm and £500,000 in the aggregate; or (2) if the firm has relevant income of more than £3,000,000, no lower than £650,000 for a single claim against the firm and £1,000,000 in the aggregate.
IPRU-INV 9.2.4RRP
(1) An exempt CAD firm which is not an IMD insurance intermediary must have: (a) initial capital of EUR 50,000; or (b) professional indemnity insurance covering the whole territory of the EEAor some other comparable guarantee against liability arising from professional negligence, representing at least EUR 1,000,000 applying to each claim and in aggregate EUR 1,500,000 per year for all claims; or (c) a combination of initial capital and professional
IPRU-INV 9.2.5RRP
(1) An exempt CAD firm that is also an IMD insurance intermediary must comply with the professional indemnity insurance requirements at least equal to those set out in 9.2.4R(1)(b) (except that the minimum limits of indemnity are at least EUR 1,120,200 for a single claim and EUR 1,680,300 in aggregate) and in addition has to have: (a) initial capital of EUR 25,000; or (b) professional indemnity insurance covering the whole territory of the EEA or some
IPRU-INV 13.1A.3RRP
(1) A firm which is not an IMD insurance intermediary must have:(a) initial capital of EUR 50,000; or (b) professional indemnity insurance at least equal to the requirements of 13.1.11R1and 13.1.15R1 to 13.1.27R1; or (c) a combination of initial capital and professional indemnity insurance in a form resulting in a level of coverage equivalent to (a) or (b). [Note: Article 67(3) of MiFID and article 31(1) of the CRD (see also rule 13.1.11R1)](2) A2firm applying2 (b) or (c)
IPRU-INV 13.1A.4RRP
(1) A firm that is also an IMD insurance intermediary must have professional indemnity insurance at least equal to the limits set out in 13.1.10R1 and in addition must2 have:(a) initial capital of EUR 25,000; or (b) professional indemnity insurance at least equal to the requirements1 of 13.1.12R1and 13.1.15R1 to 13.1.27R1; or 2(c) a combination of initial capital and professional indemnity insurance in a form resulting in a level of coverage equivalent to (a) or (b). [Note:
MIPRU 3.1.3GRP
The purposes of this chapter are to:(1) implement article 4.3 of the Insurance Mediation Directive in so far as it requires insurance intermediaries to hold professional indemnity insurance, or some other comparable guarantee, against any liability that might arise from professional negligence; and(2) meet the statutory objectives12 of consumer protection and protecting and enhancing the integrity of the UK financial system12 by ensuring that firms have adequate resources to protect