XL pulls back from solicitors’ PI market

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XL shrank its share of the solicitors’ professional indemnity (PI) market last month, as it revealed that it would no longer be writing cover for firms of one-to-three partners. The insurer also stated that it was reviewing its entire PI book with a possibility of further reductions.

“Unfortunately, current market conditions are not allowing adequate pricing in certain areas of the solicitors’ class,” the provider confirmed in a statement. “As such, we are significantly reducing our market share