A period of turbulence
The professional indemnity market has been in a period of flux over the past five years but will a more stable hardening market lead to a healthier future? Andrew Foxwell reports
Mistakes can be costly in any profession and an increasing number of corporate lawsuits have made professional indemnity (PI) insurance more important than ever.
The past five years have seen a turbulent PI market, with new players entering to grab a slice of the enlarged sector, which has seen premiums cut along with margins.
More changes in PI are expected, with rising prices for some risky sectors and consolidation among the remaining players, adding to a hardening and stabilising market.
This
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Commercial
The growing role for brokers in fighting insurance fraud
With reports of fraud escalating in terms of value or number, the role of brokers in combatting these crimes should not be underestimated. Edward Murray looks at the controls, validation tools and processes being implemented to support both detection and prevention.
Biba Conference 2024 countdown: Arch Insurance UK’s Mike Bottle
Mike Bottle, SVP, strategy and distribution at Arch Insurance UK regional division, tells delegates not to overcommit and book meetings wisely, explains why Arch’s stand offers a great space for productive conversations, and outlines his love for the Stone Roses.
Dual to open two UK offices as McGinn’s regional push gathers pace
Howden-owned managing general agent Dual will be opening two offices in the UK within a year, aiming for 12 to 15 staff in each to build its regional broker business, Insurance Age can reveal.
UK commercial insurance rates fell 2% in Q1 - Marsh
UK commercial insurance rates fell by 2% in the first quarter of 2024, whereas those in the global market rose 1%, according to the latest research by Marsh.
Biba Conference 2024 countdown: Arc Legal’s Martin Johnson
As the Biba Conference gets ever closer, Martin Johnson, head of partnerships at Arc Legal, outlines why Manchester trumps London as a location for the event and his fond memories of Bez shaking his maracas.
Aviva to open branches in Chelmsford and Southampton
Aviva is to open offices in Chelmsford and Southampton, delivering on its promise to set up two new branches this year, Insurance Age can reveal.
Jensten makes third acquisition of the year
Jensten Insurance Brokers has added to its schemes and affinities business with the purchase of Robert Gerrard & Co, an insurance broker specialising in the lift and escalator industry.
Biba Conference 2024 countdown: Phoenix Specialty’s Tim James
With the Biba Conference looming large, Tim James, managing director of Phoenix Specialty, looks forward to his firm making its debut at the 2024 event and advises everyone to stay hydrated.
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Pen inks £150m social housing capacity deal with SiriusPoint