Response to consultation on Professional Indemnity Insurance (PII) for mortgage credit intermediaries

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Do you agree that, of the four options presented, option 4 (i.e. setting the minimum amount at the average of the amounts used in Member States) is the option the EBA should pursue, resulting in a minimum amount of EUR 584 000 per claim, and EUR 886 000 per year?

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Do you consider the number and the compensatable loss of compensation claims arising from the activity of mortgage intermediation to be lower than, the same as, or higher than those arising from insurance intermediation? Please explain your reasoning.

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Do you know of options other than those listed in this consultation paper that the EBA should consider when deciding on the minimum amount of coverage?

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Do you consider threshold(s) that distinguish between more than one minimum amount of PII coverage to be a desirable feature? If so, please explain how such a threshold should be devised.

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Name of organisation

EBA Banking Stakeholder Group