Professional indemnity rates set to harden
Less capacity to drive up rates as Loyd's syndicates cut back or pull out of PI.
Rates are set to harden in the professional indemnity (PI) market, according to Manchester Underwriting Management chief executive officer Charles Manchester.
He said the reason for the increasing rates was that many of the Lloyd’s syndicates that traditionally have been writing PI business are cutting back or completely pulling out of this area of the market.
“Lloyd’s mandated this summer that there are some classes of business that are on their list of business lines that are losing them
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