Reportage - solicitors' PI: The domino effect
The much publicised troubles of Quinn and its solicitors' PI book have had a knock-on effect on other providers in the market. Liz McMahon asks what opportunities and responsibilities for brokers now exist.
On 1 October the playground taunt "pinch, punch first of the month" will be painfully apt for a record number of solicitors. Quinn's much publicised exit from the professional indemnity (PI) market has left 2,911 of the UK's 10,000 law firms hungrily searching for a new insurer in a market with an extremely limited appetite. Hiscox and Catlin have thrown in the towel while Zurich, which previously had a 13% share of the market, has shut its doors to new business. Solicitors that fail to secure
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