Tense, nervous, headache?
Soft rates, year 2000, the Pension Review... these are just a few of the worries facing many professional indemnity underwriters. Shona Cronin reports.
The professional indemnity market is overcrowded, underpriced andsome insurers are now saying enough is enough. In the last few months, GAN
has closed its Professional Indemnity and Financial Institutions
Underwriting Unit due to "falling premium income and uneconomic rates".
Many underwriters believe premiums need to increase by between 30-50%.
Colonia Baltica, has also pulled out of the market and has entered into
the corporate accident & health and contingency markets in order to
replace the
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