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Jenny, Solicitor
Category: Law
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Experience:  Qualified Solicitor specialising in Employment Law and general legal matters. Please start your question For Jenny Only
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I am a former IFA who retired in October 2004. In 1997 I advised

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I am a former IFA who retired in October 2004. In 1997 I advised a client to effect a policy to cover a Mortgage which consisted of Whole life Cover plus Critical Illness Cover plus Waiver of Contribution Cover
A third party viz: My Claim is now advising my former client to claim against me saying basically that the policy was not suitable for his requirements
I am 71 yrs old with no Indemnity Cover. Please advise
Hello my name is ***** ***** I am happy to help you today.
Did you have insurance at the time you gave the advice?
Customer: replied 2 years ago.

Yes-I believe I was covered by Windsor via Countrywide/Sesame and paid a premium of +/- £2000 per annum

I cannot remember if there was an excess on the type of policy I am asking you about

Apologies for being unsure but its 17 years since I wrote the Policy and almost 11 years since I retired

Customer: replied 2 years ago.
Relist: Other.
You offered to open the question to all on-line solicitors as Taratill may be off-line or busy
Sorry I was offline last night.
The first thing to say is that any potential claim for professional negligence is subject to a limitation period.
In short there are 6 years to bring a claim from the date of the advice or after the client is aware of the negligence.
Most significantly to your circumstances is the fact that there is 15 year longstop period in the Limitation Act. This means that you can defend the claim entirely based on the Longstop date under the Limitation Act.
This is the approach you should take.
You should also notify your insurers of the issue.
If you have any further questions please do ask. If I have answered your question I would be grateful if you would take the time to rate my answer. Thank you and all the best.
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