Professional indemnity (PI)
SRA investigating law firms over non-disclosure to insurers
A total of 23 law firms are being investigated by the Solicitors Regulation Authority for non-disclosure to insurers following last year’s professional indemnity insurance renewal.
Barbican subsidiary launches SME cyber product
Barbican subsidiary Professional Indemnity Protect has launched a new cyber liability product for SMEs and smaller corporates.
SRA ditches plans for introducing minimum rating criteria for PI players
Body’s plan for new minimum terms fails to convince
APC unveils PI team and new products
Commercial underwriter APC has launched a professional indemnity underwriting team and expanded its product offering in that area.
RSA axing UK professional indemnity covers from May
RSA is to take an axe to its UK professional indemnity book, withdrawing from excess of loss cover, as well as products for architects, design and construction, and survey and valuation.
Lockton signs up to Biba PI panel for a further three years
The British Insurance Brokers' Association has renewed its professional indemnity accredited broker contract with Lockton for a further three years.
Unrated insurers tighten grip on solicitors' PI market, states report
Unrated carriers have consolidated their market share within the solicitors’ professional indemnity arena, according to an annual study by the Law Society.
Insurers urged to question use of double-handed care
Pay-outs for insurers’ personal injury claims are being inflated due to blanket policies requiring two carers being present to manually move a patient rather than one, according to a new report.
Industry doubtful SRA minimum rating plan can boost solicitors’ PI market
Regulator finishes eight-week consultation on possible ‘B’ minimum.
Axa to grow PI share to £25m through regional underwriting
Axa has begun recruiting specialist regional underwriters as part of plans to grow its professional indemnity book to £25m.
Health department rejects independent midwives insurance plan
The Department of Health has decided that funding insurance for members of Independent Midwives UK will not give patients protection.
Solicitors’ Professional Indemnity: Whipping up a storm
With the Jackson reforms and the ‘Plebgate’ debacle presenting solicitors with a host of new challenges, what impact has this all had on the solicitor’s professional indemnity market?
Appeal court's 'landmark decision' alleviates PI market pressure
The Court of Appeal’s decision to rule against the right of claimants to accept a pay-out awarded by the Financial Ombudsman Service before suing for the balance of loss in court will boost the embattled professional indemnity market, according to law…
3D Printing: Get ready for the 3D revolution
With 3D printing expected to totally transform manufacturing, what does it mean for the insurance industry?
Millburn administrators appoint Certo to handle indemnity claims
Certo Loss Adjusters has been appointed by the administrators of Millburn Insurance Company to deal with indemnity claims.
SRA kicks off unrated insurer consultation
The Solicitors Regulation Authority has formally opened an eight week consultation on barring unrated insurers from providing professional indemnity cover to regulated firms.
Brokers get behind SRA plan to ban unrated firms from writing solicitors’ PI
Critics argue plan is ‘misconceived’ and would put ‘upward pressure on rates’.
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.