Pen seals new solicitors’ PI facility after IGI capacity deal ends early

Pen Underwriting has put new solicitors’ professional indemnity business on hold while it finalises a new long-term capacity deal for the product line.

The change in the facility does not affect existing customers, and Insurance Age understands the managing general agent expects to complete the arrangements imminently, which could be as early as next week.

In a statement, Pen Underwriting told Insurance Age: “We are in the process of transitioning away from our current facility for solicitors’ PI insurance. This has created an exciting opportunity for us to engage with new strategic partners who value Pen’s expertise and extensive experience in