Over 10% of firms opt for unrated insurer

Insurance Age has reported that more than 10% of law firms opt to take out professional indemnity (PI) insurance with an unrated insurer.

They cite research from law firm advisors O’Connors who found that 13% of nearly 500 firms surveyed opted for unrated insurers despite high-profile controversies involving insurers like Lemma, Balva and Beliner over the last year.

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