Solicitors’ Professional Indemnity Insurance: A Brief Guide to the Market (2018)
Welcome to our annual summary of the Professional Indemnity Insurance ("PII") market for Solicitors.
In this article we provide an overview of market conditions and discuss the key factors that determine premium or that are likely to do so in the near future.
Creating A Positive Impression: Completing Your Law Firm’s PII Proposal Form
How and when you complete your proposal form are far more significant factors than you might think.
In this article we provide tips on how to make the right impression with insurers and how to ensure that you present your practice in the best possible light.
Solicitors’ Professional Indemnity Insurance: A Brief Guide to the Market (2017)
Professional indemnity insurance (“PII”) can be one of the largest overheads for a law firm. The market for Solicitors’ PII is also one of the most changeable which can sometimes make the renewal process seem overly complicated as the information required by insurers and the cost of the insurance itself vary from one year to the next.
The Professional Indemnity Company is a specialist, independent broker with vast experience of sourcing PII for Solicitors. The breadth of our market access means that we have a clear perspective on the marketplace and a better understanding of insurer requirements than brokers that deal with only one or two insurers.
Our aim, both in this article and in our dealings with our clients, is to make a process that can often appear unnecessarily complicated as straightforward and transparent as possible.
Insurance Premium Tax to Increase to 12% from 1st June 2017
From 1st June 2017 the tax on insurance, insurance premium tax (“IPT”), will increase from 10% to 12%.