There are limited Insurers for solicitors’ risks, particularly this year (read more here: 'Understanding your 2021 PII renewal').
With premiums rising, you'll naturally want to check whether a more competitive option is available. Insurers are very busy with increased enquiries and many will only quote once for your company. Multiple applications from different brokers just add to their workload and are likely to be rejected. Underwriters have very limited time to review incomplete or illegible renewal submissions.
This means that you need to get your application right first time.
As solicitor professional indemnity insurance specialists, we help you with your renewal submission; it needs to be detailed and thorough, addressing all risks and pre-empting the questions insurers are likely to ask.
You may have had some past claims or reported a new one recently, perhaps your work profile has changed. You will need to address these areas in your proposal form to show how you are managing and mitigating the risks.
Our experienced team will help you save time and stress, guiding you though the information you need to collate for insurers. We offer a no obligation, free of charge, second opinion on your existing insurance arrangements.
We work with over 30 insurers and have strong relationships with underwriters including at Lloyd’s.
Our market knowledge enables us to select the insurers most likely to quote for your business based on your work profile and size. ‘Spamming’ the market rarely yields rewards!
As independent brokers, we are not tied to any insurers. We work for you and our advice is always in your best interests – not swayed by a desire to maximise our own income.
We recommend that our clients take a more holistic approach to protect your business against the main professional risks by including Cyber Insurance and Directors and Officers Insurance. This article explains more about the types of insurance and why there are significant cost, time and operational advantages to arranging your professional insurances with a single broker.