Professional indemnity (PI)
SRA publishes names of 136 solicitors forced to close
The Solicitors Regulation Authority has named the 136 firms that failed to secure professional indemnity cover by the 1 October deadline and did not obtain cover during the extended policy period.
GB chairman eyes long-term gains following product expansion
GB Underwriting has penned a new underwriting arrangement with WR Berkley Europe to provide a comprehensive range of products to meet the needs of its construction-focussed customer base.
Independent midwives PI deadline extended to February
The deadline for independent midwives to have mandatory professional indemnity cover in place has been extended to the end of February.
Willis hails 30% increase in solicitors' PI market share
The UK legal services practice of Willis Group has grown its market share of the solicitors’ professional indemnity insurance market by around 30%.
SRA to release figures on solicitor closures next week
The number of solicitors shutting up shop after failing to obtain professional indemnity insurance is likely to be confirmed next week, the SRA has said.
Bluefin acquires Scottish PI broker
Bluefin has acquired independent Edinburgh-based broker P I Brokers for an undisclosed sum.
SRA mulls enforcement action for firms in PI breach
The Solicitors Regulation Authority has warned it is considering enforcement action after “a substantial number of solicitors” failed to declare their insurance position regarding professional indemnity cover.
European PI market to be worth £6.27bn by 2017
The professional indemnity insurance market across 10 European countries - Austria, Belgium, France, Germany, Italy, Netherlands, Poland, Spain, Switzerland and the UK- will be worth around €7.5bn (£6.27bn)by 2017.
New PI business to be launched by ex-Towergate team
A former Towergate employee is to launch a Sheffield-based professional indemnity underwriting business called The PI Desk.
SRA urged for clarity on successor practices
Personal injury firm SGI Legal has called on the Solicitors Regulation Authority and professional indemnity insurers to issue ‘proper’ guidance on when those buying work-in-progress will be considered a successor practice.
Allianz launches enhanced tech PI product
Allianz Global Corporate & Specialty has launched an upgraded professional indemnity cover for of up to €20m (£16.5m) technology companies, software creators and telecommunications suppliers.
Your say: Don’t blame solicitors for PI failure
It is surprising that brokers are criticising solicitor firms for leaving it too late to seek specialist advice, since the majority of practices left without insurance were affected by the aborted transfer of policies from Balva – an unrated insurer in…
HCC swoops for QBE underwriter to boost PI team
HCC International has hired professional indemnity underwriter Nicola Marshall to join its London-based PI team.
Solicitors inaction following ARP closure blamed for lack of PI cover
153 law firms have entered 60-day cessation period after failing to get insurance
Threat of closure looms for 153 law firms ahead of final PI deadline
The Solicitors Regulation Authority has revealed 153 solicitors firms have gone into the extended policy period after failing to secure professional indemnity cover.
Lemma claims will not be met in full says liquidator
Outstanding claims against Gibraltar-based insurer Lemma could start to be paid this autumn, but there will not be enough money in the estate to pay all claimants, according to the official liquidator.
Legal Market: Joining forces
Mergers and acquisitions in legal markets show no sign of abating. But what is behind the desire to consolidate law firms, and what does it mean for the insurance industry?
Majority of law firms obtain PI cover with rated insurer
A survey of nearly 500 law firms has found 13% sought professional indemnity cover with an unrated insurer before the end of the renewal period on 1 October.
Europe: Insurance valuation processes
How does insurance valuation practice differ in territories around the world? Nigel Wilson explains.
Concerns grow for solicitors’ PI market as top brokers look to unrated carriers
At least 175 law firms enter EIP as impact of Berliner exit continues.
SRA receives 185 requests to enter EIP
A total of 185 law firms have applied to the Solicitors Regulation Authority to enter the extended indemnity period for solicitor’s professional indemnity insurance having failed to secure cover by 1 October.
Solicitors' PI: Taking a gamble
While their low prices make unrated carriers an attractive option for solicitors seeking professional indemnity insurance, are they worth the risk? And do small law firms have any alternative?
Pioneer adds to PI team
Pioneer Underwriting has recruited Paula McManus to its professional indemnity business.