Professional indemnity (PI)
Ex-Aviva PI team members launch MGA
Members of the former Aviva SME professional indemnity underwriting team today launched Pinpoint Underwriting, an MGA specialising in PI for small to medium sized businesses.
PostCast - Issue 2 - 15/22 August
The team discuss the news, features and interviews from the 15/22 August edition of Post Magazine. Hosted by Post editor Stephanie Denton.
Aon and QBE extend solicitors' PI reach following XL market cutback
Aon Risk Solutions has extended its exclusive arrangement with QBE Europe for solicitors’ professional indemnity to include one to three partner firms.
Aspen appoints Richard Smart as underwriter
Aspen International Insurance has appointed Richard Smart as professional liability underwriter, based in London.
Market fears unrated insurers could take advantage as XL cuts solicitors’ PI book
XL’s withdrawal from the solicitors’ professional indemnity market for smaller firms has sparked fears that some companies could be pushed further into the arms of unrated carriers.
XL set to slash solicitors' PI market share
XL has confirmed it will “significantly reduce” its market share in the solicitors' professional indemnity market in the upcoming renewal season.
QBE appoints Quinn to lead professional and financial practice
QBE has appointed Simon Quinn as underwriting manager for its professional and financial Lines national practice.
Mitsui Sumitomo expands senior underwriting team
Mitsui Sumitomo at Lloyd’s has added two experienced underwriters to Syndicate 3210 as part of a plan to diversify its products and distribution and capitalise on international opportunities.
Fund managers PI queries set to rise
Insurers can expect an increasing number of professional indemnity queries from new and existing fund manager clients and their brokers as the cover becomes a regulatory requirement, CMS Cameron McKenna has warned.
Interview: David Walsh: The artist
After 14 years building CFC Underwriting from a dotcom start-up to a successful MGA, founder and managing director David Walsh now sees the global market as his canvas.
Midwives target government funding as captive solution given green light
Independent midwives have been given the green light to set their own adequacy for a captive insurance solution, ahead of mandatory legislation meaning they must have professional indemnity cover to practice.
Interview: Steve Langan: Onwards and upwards
Concerned that the wider industry is dangerously out of touch when it comes to technology, servicing customers and advertising, Hiscox UK managing director Steve Langan tells Post how his firm keeps up with the times.
Solicitors offered unrated insurer carriers despite solvency concerns
Déja vu as Balva-like unrated carriers on brink of taking market.
In Series: Claims: Investigating the investigators
What will the FCA’s examination of insurers’ use of private investigators uncover – and will it affect industry efforts to combat fraud?
Balva revealed as third biggest PI insurer
Balva was named as the third biggest professional indemnity insurer in the UK market this year in the Law Society’s Insurers’ Guide 2013-2014.
Law Society’s motive behind new PI scheme called into question
Brokers doubtful scheme will mitigate threat posed by unrated insurers.
View from the Top: Do not adjust your sets
So here we go again. Nine months after offering renewal to 1300 UK law firms – and less than two years after they entered the market – an unrated insurer, with a ‘passport’ into the UK insurance market, has been forced to cease trading having been…
Indemnity Risk Solutions launches new PII offering for 2013
Indemnity Risk Solutions, an underwriting agency specialism in professional indemnity insurance for small to medium sized firms has launched its Solicitors Professional Indemnity offering for 2013.
Law Society to launch professional indemnity scheme
The Law Society is in the process of establishing a professional indemnity scheme for small firms to help them steer clear of unrated insurers.
Unrated insurer problems force SRA to reinvestigate stance on financial stability vetting
The Solicitors Regulation Authority is to re-investigate if it should introduce financial eligibility criteria following recent problems with unrated insurers including Quinn, Lemma and more recently Balva.
Biba and Kingsbridge offer PI scheme for freelancers
The British Insurance Brokers Association and Kingsbridge are offering professional indemnity cover for freelance professionals.
Tax-avoidance crackdown could see PI insurers hit with third-party claims
HMRC tax workaround enquiries focusing on individuals as well as corporations.
Editor's comment: Can insurers avoid tax trouble?
During this period of austerity, tax avoidance has turned into a major political issue, with Prime Minister David Cameron making it a key topic at the recent G8 summit of leading economies held at Lough Erne, Northern Ireland.