Professional indemnity (PI)
Blog: Covid’s massive impact on solicitor negligence risk
Wilsons associate solicitor Jayna Patel considers the impact of Covid-19 on growing solicitor negligence risk.
SRA's changes to solicitors' PI terms and conditions rouse concerns from underwriters
Underwriters of solicitors’ professional indemnity insurance have raised concerns that a clause proposed by the Solicitors Regulation Authority fails to provide clarity on which cyber losses will be covered by policies.
Intelligence: Glasgow regional review
The 2021 United Nations Climate Change Conference, also known as COP26, is scheduled to be held in the city of Glasgow next week. Post investigates how the city has fared through the pandemic and how the insurance sector is supporting it.
Brokers foresee disruption from Amazon business insurance deal but no reason to panic
Amazon Business’ partnership with insurtech Superscript has the potential to bring an element of disruption and grab niche market share by meeting demands but advice is still key for corporate SME business, according to experts.
Blog: Securing peace of mind in the wellbeing sector
Peach Pi underwriter Maria Naghshbandi considers the cover and claim minefield for practitioners operating in the widely unregulated wellness sector.
Blog: Cladding claims – ongoing challenges post-Grenfell
Brawdia managing director Philip Barmby considers the increasing complexity of cladding claims post-Grenfell.
Ardonagh acquires adjuster; ERS enters new lines; Geico partners with UK insurtech; and Partners& buys in Devon
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
First insurance ESG Framework unveiled; Ardonagh acquires Usay Gp; James Hallam adds trio of buys; and Right Choice completes Bennetts deal
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Biba 2021: FCA’s Matt Brewis says BI claims payments could have been made quicker post-judgment
While acknowledging the complexity around Covid-19 business interruption claims, an FCA representative has said he believes payments could have been made quicker following the January test case judgment.
Biba 2021: 'Unified action' needed to fix PI insurance problem
With professional indemnity insurance prices soaring, and insurers increasingly withdrawing cover, panellists at the British Insurance Brokers' Association conference called for insurers and brokers to collaborate to bring back value for customers.
Blog: Loss adjusters and loss assessors face enhanced professional indemnity risk after BI test case verdict
Professional indemnity claims against loss adjusters are rare, and against loss assessors they are even rarer, but there is a cauldron brewing following the business interruption test case, Trafalgar Risk Management head of marketing Bill Lumley cautions.
Analysis: Brokers face PI exclusion dangers
Compliance consultants have highlighted the dangers for brokers of buying professional indemnity insurance with Covid-19 exclusions, warning that the Financial Conduct Authority can suspend permissions if firms do not get the right cover
Blog: New beginnings for PI claims
As we emerge out of Covid-19 and into the ‘new normal’, claims specialists are speculating what the future of insurance could look like. Peter Hamberger, head of claims – professional risks at Tokio Marine HCC, explains how the past year has impacted…
Insurance lives in the Covid era - 12 months on from the first National Lockdown: Part Four
On the 23 March 2020 as Covid-19 infection rates soared Prime Minster Boris Johnson told us to “stay at home” triggering the first National Lockdown. One year on Post spoke to a host of insurance workers - the insurer boss, the broker boss, the insurer…
Editor's comment: PI breaking point
Spending most of the most recent half term indoors with nowhere to go, we turned to being creative and churned out paint pouring masterpieces, pottery-wheel egg cups (although eggs can’t fit in them) and designed our own t-shirts
PI Analysis: Pandemic pushes cover down technology firms' to-do lists
Professional indemnity insurance may have slipped down the shopping list of some IT and technology companies, but firms that do take out cover are finding the type of policy limits they are used to harder to come by
PI Analysis: Construction sector locked out by high rising premiums
Many companies in the construction sector are struggling to obtain professional indemnity insurance cover, with the Grenfell Tower fire and the building safety crisis key drivers of premium hardening and exclusions.
Briefing: The professional indemnity stalemate
Professional indemnity has become a problem line for the market and the sectors it serves, with shrinking capacity and stricter underwriting terms in cases leaving professions feeling left out in the cold.
PI Analysis: Independent financial advisers count the cost of insurance red flags
Professional indemnity premiums for independent financial advisers have soared, driven by a perfect storm of legislative and claims change
Engineers carrying out cladding assessments will be able to avail of state-backed PI cover
The government has committed to a state-backed indemnity scheme for fire safety engineers who are unable to obtain professional indemnity insurance, as it announced an additional £3.5bn in funding for the removal of cladding from buildings 18m in height…
For the record: Ardonagh swoops for PI broker; ERS in ILS push; First 4 Lawyers launches RTA law firm; Marsh partnership and McLarens acquires
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Interview: Paul Coleman and Allison Hughes, Peach Pi
Last October saw the launch of Peach Pi, an insurance brand pitching itself to the UK’s micro-SMEs, freelancers and entrepreneurs. Harry Curtis caught up with managing director, Paul Coleman and Allison Hughes, head of distribution to learn about how the…
Q&A: Max Carter, New Dawn Risk
Formed in 2008, New Dawn Risk grew to handle £81m of premium last year. It started 2021 by looking to target UK regional brokers for the first time. Founder Max Carter reviews the growth of the company and explains why now is the right time for the firm…
Committee calls for government PI scheme for fire risk assessors
The government faces calls to act as an insurer of last resort for fire safety engineers’ professional indemnity insurance.