Professional indemnity (PI)
FCA annual report reveals insolvent insurer and client money deficit
The Financial Conduct Authority has stopped 1300 small law firms renewing their professional indemnity cover with an insolvent insurer as well as correcting a £17m client money deficit in a medium-sized broker, according to its 2014/15 annual report.
Interview: Mark Bennett: Keeping it in the family
Five years since the merger of Bennett Dawes and Christmas Insurance Brokers, Bennett Christmas chief executive Mark Bennett explains how he plans to grow the firm further.
Marintec and Partner Re strike strategic partnership
Italian underwriting agency Marintec has announced a strategic partnership with Partner Re Wholesale, the specialist SME division of global reinsurer Partner Re.
Quiz of the week - 2 April
Test your knowledge of this week's industry news stories with our just for fun quiz.
SRA investigates two uninsured firms
Two uninsured law firms that should have closed at the end of 2014 are being investigated by the Solicitors Regulation Authority.
Europe C-Suite: A judgment call - the PI market in Germany
The market for professional indemnity cover is growing in Germany - so how can insurers keep up with demand?
Elite offering PII to MROs as Medco minimum cover requirement is set at £1m
Unrated insurer Elite Insurance has “leapt to the aid” of medical reporting organisations that want to be considered for the Medco portal by offering professional indemnity cover.
Allianz launches PI product for e-trading platform
Allianz has launched a new e-traded professional indemnity product for the UK broker market.
Spanish MGA launches with Partner Re support
Spanish managing general agent Iberian Insurance Group has launched as part of a five-year commercial agreement with Partner Re Wholesale.
Interview: Steve Bamforth: Come together
A one-company man, Steve Bamforth became CEO of Liverpool-based Griffiths & Armour aged just 38. Now, with a strategy of acquiring teams rather than businesses, he gets a buzz from giving youth a chance
Mid-Sussex broker Bennett Christmas snaps up Howden PI book
Burgess Hill-based broker Bennett Christmas Group has acquired of a book of professional indemnity business from Hyperion Group subsidiary Howden Insurance Brokers.
49 law firms enter PI cessation period
12 law firms have been forced to close their businesses after failing to obtain professional indemnity cover, the Solicitors Regulation Authority has confirmed, while 49 have yet to renew PI cover.
Lime Underwriting PI and D&O exit opens door for Ascent
Ascent Underwriting has entered the UK and Irish professional indemnity and directors and officers markets following the recruitment of Lime Underwriting's managing director and two other specialists.
Martinez and Partners to enter professional indemnity market
Basingstoke-based broker Martinez and Partners is to launch stand-alone professional indemnity products for architects, surveyors and accountants in 2015.
Interview: Jon Walker: In at the deep end
Axa managing director for commercial intermediary Jon Walker reveals that a change programme and an e-trading review have ensured his first few months in the job have been ‘incredibly busy’
Begbies Traynor appointed administrators for Balva broker Bar Professions
Rescue and recovery specialists Begbies Traynor have overseen the sale of parts of Bar Professions’ professional indemnity book, after being appointed administrators for the Lloyd’s broker.
C-Suite - Broker: Groundhog day
The continued use of unrated insurers in the solictor’s professional indemnity market is concerning
Renewable energy: An ill wind?
If a recent Swiss Re report is to be believed, investment in renewable energy is set to skyrocket in the coming years – so why do insurers seem wary of taking on the sector’s risks?
Unrated insurers set for reduced share of solictors’ PI market as renewals loom
Law firms becoming ‘increasingly aware of unrated security issues’
Aon unveils syndicate-backed professional indemnity facility
Aon has launched a new professional indemnity product with the backing of Lloyd’s syndicates including Novae and Argo.
Unrated carrier behind independent midwives PI solution
The capacity behind a commercial professional indemnity insurance solution for independent midwives is being provided by an unrated Gibraltan carrier, Post understands.
BLM appoints new PI partner
BLM has added, commercial lawyer Jagdeep Singh Hayre, formerly of Birmingham City Council, to its public sector team.
ABI welcomes LSB delay on 'misguided' PI cover reduction
The Association of British Insurers has described the decision by the Legal Services Board to prevent a reduction in the minimum terms for solicitors’ professional indemnity insurance ahead of the October renewal period as “a victory for common sense”.
SRA fails to gain approval for PI cover change ahead of renewals
A reduction in the limit for mandatory professional indemnity cover will not take place before the October renewals after the Legal Services Board issued a warning notice delaying its decision on the change by up to twelve months.