Professional indemnity insurance is compulsory for solicitors in the UK and the minimum terms are set by the Law Society and only provided by approved insurers.
Until recently, all solicitors had to renew their professional indemnity insurance upon the same day each year, however, solicitors are now free to change their renewal date from the previous common date of 1st October.
Over the years, many insurers have entered and left the market, having suffered poor loss ratios and as such, insurers’ risk selection is becoming increasingly restricted.
As a consequence, the placing of solicitors PII requires a specialist team with access to the open market. Brunel are a premier placing broker in the professional indemnity market for both Solicitor’s & Lawyer’s and are listed as one of the main placing brokers for solicitors PII.
We are pleased to announce our largest panel of SRA approved insurers this year to which many are on an exclusive basis.
We are happy to work jointly as your in house PI department or behind the scenes as a traditional placing broker, which ever suits you and your client best.