Structural change.
Over the last few years, professional indemnity for the engineering sector has been a difficult class to write, however, the signs are that rates are stabilising and are even set to rise. Simon Threadgold finds out why.
Despite some insurers retiring from the market, there is no shortageof underwriters offering professional indemnity (PI) to engineers. Colonia
Baltica and Thor have gone, and Norwich Union has subcontracted its
portfolio to St Paul International, but their withdrawal has hardly
affected the market.
Newcomers such as PI Direct, Link, and Keith Rutter's Underwriter
Insurance Company are still reckoning on profits from this difficult
class. Underwriter Insurance is busy recruiting a team in order to
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