Product: Elite Insurance targets solicitors’ PI market
Legal expenses provider Elite Insurance has set its sights on £3m premium income with the launch of professional indemnity (PI) for solicitors insurance cover.
The niche general insurer said the offering was in response to clarification this year by the Solicitors Regulation Authority which looked at membership and funding of the Assigned Risk Pool (ARP) and its increasing costs.
Chief executive at Elite Jason Smart said: “PI for solicitors has been a challenging area which, in our opinion, has been best avoided in recent years.
“However, with essential changes to the ARP now agreed and far fewer firms entering the pool, we believe the time is right
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