Smallest brokers pay five times higher proportion of earnings towards PI than largest firms
As a proportion of revenue, smaller insurance intermediary firms are still paying out far more for professional indemnity insurance than the largest firms, the Financial Conduct Authority’s latest data bulletin shows.
Firms with revenue of up to £100,000 paid an average premium of £2135. That means firms with a mean average revenue of £42,214 would spend the equivalent of 5.1% of their total revenue on PI.
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