Market fears unrated insurers could take advantage as XL cuts solicitors’ PI book
XL’s withdrawal from the solicitors’ professional indemnity market for smaller firms has sparked fears that some companies could be pushed further into the arms of unrated carriers.
The insurer, which had the largest share of the solicitors’ PI market in 2012 with 16.5% of business, has confirmed it is withdrawing from writing firms with one to three partners. An XL spokeswoman
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