Profit warning?
Although many predicted it would be a profitable sector, solicitors' professional indemnity is proving difficult, with some insurers having to pull out. Some of these challenges are also being reflected in the wider PI market. Veronica Cowan reports on the current state of what is proving to be a tough arena.
When the solicitors' indemnity market was opened to the commercialsector in 2000, several players rushed in. With some now leaving the
market, the question is, exactly how profitable is it?
Peter
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