Managing The Professional Indemnity Market

The renewal of the professional indemnity insurance (PII) policy has often been a time-consuming and difficult experience for solicitor firms of all sizes.

The PII market for Law firms is ever changing, with the withdrawal of several insurers from the market in the last 12 months, leading to an uncertain and turbulent landscape for the foreseeable future.

It is vital that law firms disclose the right information at the start of the process in order to engage insurers’ interest and obtain competitive premiums. A poor submission to market can affect the insurer’s decision on the terms they offer.

Highlighting internal and external risk management procedures is imperative, allowing an insurer an insight into how you limit their exposure on a daily basis may lead to a premium reduction. Using Index reduces risk by ensuring all staff follow the required procedures using the structured workflow functionality.

UKGlobal recognise that the use of Index’s specialist Search online ordering system and the integrations it provides is a prime example of a firm taking additional measures to minimise risk and improve risk management procedure.

UKGlobal specialise in the placement of Professional Indemnity and associated financial lines products for firms in the legal sector. With the experience and ability to navigate the toughening market, they work with firms to assess their exposure and present them in the best light to insurers.

As an independent broker UK Global Limited are not tied to any one insurer and have the ability to undertake a thorough analysis of the market.

When contacting UKGlobal please use the code: INDEXDISC20.

Contact 0117 456 9098 | [email protected] |

This article was submitted to be published by Index Property Information as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.

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