Professional indemnity (PI)
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.
Independent midwives agree commercial PI solution
Independent midwives have agreed a commercial professional indemnity insurance arrangement allowing them to continue practising under new EU legislation.
Triton Global promotes three to partner status
Legal services provider Triton Global has promoted three staff to the role of partner, effective 1 August.
Editor's comment: Misguided? That’s putting it lightly
Underinsurance is a huge issue for the whole of the insurance sector and an ongoing battle for brokers, while putting the customer at the heart of every decision is becoming a mantra for the Financial Conduct Authority.
Brokers expected to prove worth after cut to minimum level of solicitors’ PI
ABI criticises SRA’s ‘misguided idea’ that reduction will lower premiums
AmTrust offers premium savings to solicitors using risk reduction software
Solicitors who use risk mitigation software will be rewarded with discounts on their professional indemnity premiums under a new initiative by legal risk software house Lexsure and insurer AmTrust Europe.
AGCS appoints sernior CMT and cyber underwriter
Allianz Global Corporate & Specialty has appointed Graeme King as the senior underwriter responsible for communications media and technology and cyber.
ABI slams 'misguided' SRA decision on mandatory PI limit
The ABI has criticised the Solicitors Regulation Authority’s decision to reduce the level of mandatory professional indemnity cover for solicitors to £500 000, calling it “misguided”.
SRA cuts mandatory PI cover limit to £500 000
The Solicitors Regulation Authority has reduced the minimum level of professional indemnity cover for solicitors to £500 000.
JLT Specialty partners with Starr on solicitors' PI agreement
JLT Specialty has expanded its solictors' professional indemnity offering through a partnership with Starr Companies for four to 10 partner firms in England and Wales.
Solicitors face being struck-off over PI non-diclosure
Twenty-three law firms face being struck off if an investigation by the Solicitors Regulation Authority finds they withheld information in order to gain professional indemnity cover.
SRA investigating law firms over non-disclosure to insurers
A total of 23 law firms are being investigated by the Solicitors Regulation Authority for non-disclosure to insurers following last year’s professional indemnity insurance renewal.
Barbican subsidiary launches SME cyber product
Barbican subsidiary Professional Indemnity Protect has launched a new cyber liability product for SMEs and smaller corporates.
SRA ditches plans for introducing minimum rating criteria for PI players
Body’s plan for new minimum terms fails to convince
APC unveils PI team and new products
Commercial underwriter APC has launched a professional indemnity underwriting team and expanded its product offering in that area.
RSA axing UK professional indemnity covers from May
RSA is to take an axe to its UK professional indemnity book, withdrawing from excess of loss cover, as well as products for architects, design and construction, and survey and valuation.
Lockton signs up to Biba PI panel for a further three years
The British Insurance Brokers' Association has renewed its professional indemnity accredited broker contract with Lockton for a further three years.
Unrated insurers tighten grip on solicitors' PI market, states report
Unrated carriers have consolidated their market share within the solicitors’ professional indemnity arena, according to an annual study by the Law Society.
Insurers urged to question use of double-handed care
Pay-outs for insurers’ personal injury claims are being inflated due to blanket policies requiring two carers being present to manually move a patient rather than one, according to a new report.
Industry doubtful SRA minimum rating plan can boost solicitors’ PI market
Regulator finishes eight-week consultation on possible ‘B’ minimum.
Axa to grow PI share to £25m through regional underwriting
Axa has begun recruiting specialist regional underwriters as part of plans to grow its professional indemnity book to £25m.
Health department rejects independent midwives insurance plan
The Department of Health has decided that funding insurance for members of Independent Midwives UK will not give patients protection.
Solicitors’ Professional Indemnity: Whipping up a storm
With the Jackson reforms and the ‘Plebgate’ debacle presenting solicitors with a host of new challenges, what impact has this all had on the solicitor’s professional indemnity market?