XL pulls back from solicitors’ PI market
Broker concerns remain over placing business with unrated insurers
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
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