On 1 October 2015, the Central Bank published guidance on professional indemnity insurance (PII) requirements for intermediaries, including insurance intermediaries. The guidance addresses issues such as the need to ensure that PII policies do not limit the amount payable in relation to Ombudsman awards.  The PII guidance is highlighted in the latest issue of the Central Bank's Intermediary Times newsletter, which also emphasises (a) that firms should inform the Central Bank of change of company status under the Companies Act 2014 and (b) the potential impact of Solvency II on insurers' relationships with intermediaries (e.g. regarding product development/distribution).