Expert PI Insurance Broking

By Cliff

As many business insurance market commentators predicted, professional indemnity (PI) insurance premiums rocketed this year.

Towards the end of 2018, Lloyd’s confirmed that PI insurance was one of the worst-performing classes in the Lloyd’s of London market, as long-term fierce price-cutting – as underwriters have competed for market share – has come to an end.

Thankfully, this could signal the end of brokers employing pools of telesales agents to call businesses with the aim of convincing them that their PI insurance premiums can fall even further. Most experts would agree that, in 2019, this insurance sales pitch is nothing short of misleading.

As the number of underwriters willing to accommodate the PI insurance market has fallen, and the number of businesses, particularly in construction related industries, in need of PI increases, prices have dramatically risen.

The need for experienced insurance brokers like Home Counties Insurance to help minimise price increases through well-informed broking and risk management has never been greater. Call us on 01525 719955 or email info@homecountiesinsurance.com and ask us for help.

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