JLT warns against two-year solicitors’ PI deals
With the deadline for solicitors’ professional indemnity insurance (PI) only six weeks away JLT partner Mike Perry has warned that locking into a 24-month deal seems foolhardy.
This year marks the last year before the assigned risk pool (ARP) is disbanded and has led to providers issuing longer term products.
Mike Perry, partner, JLT Speciality commented: "We are seeing a number of providers offering two year PI insurance which obviously has its appeal, the avoidance of the annual renewal and peace of mind for a two year period.
"However as everyone is current contributing towards the cost of the ARP, it is very possible that premiums will drop for many solicitors next
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