Dear Member,
I am delighted to have been elected as President of the Association for the year 2022-2023 and I look forward to meeting you at our events during the year.
PROFESSIONAL INDEMNITY INSURANCE
This is a perennial and challenging issue which does not appear to have improved much in the past 12 months.
There are steps however that can be taken in order to give you the best possible chance of a competitive rate being obtained from the insurer.
- Use the Common Proposal Form as issued by the Law Society.
Many insurers will now insist on the common proposal form and it is a good idea to spend the time in completing this form carefully as it can then be used for more than one application for cover. Using a short form means that it cannot be used for applications to other companies. It may be helpful to have a colleague proof your form for you.
- Check with your Broker what insurance companies they offer access to.
At the time of writing there were 7 insurance companies offering cover as follows:
AIG – partnerships
Allianz – sole practitioners and partnerships
Berkshire – partnerships
CNA – sole practitioners and partnerships
Liberty – partnerships
QBE – partnerships
Starr – sole practitioners and partnerships
- Get a copy of your claims history
This is an indispensable part of your application for PII and you should obtain this as soon as possible
- Keep in touch with your broker
It is a good idea to follow up promptly with your broker after sending in the proposal form to ensure that they have received it and that it is receiving attention.
More information CLICK HERE
Susan Martin
President
