After more than 20 years of a benign underwriting and pricing environment, the UK Directors’ & Officers’ Liability insurance market has become one of the most difficult to navigate during 2020, with many companies seeing double and triple digit increases…read more
Placement of the Month – August
Our August placement of the month is a large accountancy firm that had been involved in some high-risk activities, including previous exposure to tax avoidance. As you might expect, the holding market was not willing to cover this. In addition,…read more
Placement of the Month – July
Our July Placement of the Month was a troublesome renewal involving a design and construction risk. The insurer dropped from 100% of a £5m AOC limit, paying £27,500, to a 50% line of a £5m AGG limit, whilst increasing the…read more
Placement of the Month – June
If ever a risk demonstrates that perseverance and obtaining a detailed picture of the insured’s business pays, it’s our June placement of the month. Last April, we were appointed by a sub broker to replace the primary layer cover for…read more
Placement of the Month – April
Our April placement of the month is a civil and structural engineering firm whose renewal had gone from £3K to £19K. This case is a prime example of the current conditions of the hard market, where the process is less…read more
Placement of the Month – March
March’s placement of the month is a provider of flood risk and drainage services, infrastructure design and transport planning to the property development industry. We first had the inquiry last year, two days before their renewal date. We managed to…read more
How to design and construct success in the hard market
You will no doubt be well aware by now of the hardening market affecting UK based construction professional indemnity insurance risks. The number of insurers offering D&C PI has contracted, terms & coverage offered are more restrictive, limits of indemnity…read more
How will the FOS limit increase affect your business?
As a broker regulated by the FCA, there has always been a maximum limit of compensation available to your client to whom has lodged a complaint using the formal channel of the Financial Ombudsman Service (FOS). Historically this has sat…read more
Don’t Blame It on Brexit, Don’t Blame It on the Good Times, Blame It on 15 Years of Over-Capacity and Under-Pricing.
Many professionals, who have been in business for 20 years or more, may remember that the professional indemnity insurance market used to follow regular cycles of premiums falling and then rising, largely in conjunction with the macro economic cycle of…read more
Negligent Broker Escapes Damages
A recent insurance broker who had neglected to arrange a professional indemnity insurance policy for his client has escaped paying damages as legally, no loss was actually suffered by his client. Rodney Channon was practicing as a chartered accountant and…read more
