Solicitors' PI premiums drop after first year.

Solicitors rejoiced in lower premiums in the first year of open market insurance, saving the profess...

Solicitors rejoiced in lower premiums in the first year of open
market insurance, saving the profession almost £80m.


The premiums this year have increased by up to 15% (from £163m to
£180m).


The

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Insurers face margin crush unless premiums are hiked

Data analysis: A sustainable margin recovery looks increasingly challenging for insurers with premiums needing to increase in real terms to prevent any erosion after a tripling of costs to 10.9% of premiums last year from 3.5% in 2022.

Stephen Wallace, McLarens

Steven Wallace is managing director of EMEA for global claims services provider McLarens and is the current president of the Chartered Institute of Loss Adjusters.