A period of turbulence

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.

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