Blog: What happens next in the PI market?
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MUM's Sachin Gupta predicts a rocky road for professional indemnity insurance.
The last year has been eventful in the professional indemnity market.
It started hardening at the end of 2018 but not for all professions. In 2019, as each month passed by there had been some turn of events to stir the PI market up, with capacity reducing as markets retract from the class.
As we got to the end of 2019 you could see signs that some underwriters were finding premium capacity had tightened so much they were struggling even to accommodate renewals, with increased rates
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