'Fragmented and barely functioning' PI market is biggest threat to advisers - Beaufort chairman

Excesses up five-fold

“As a result, we now have a situation where firms that are already insured are struggling to change insurer, and the best an adviser business can often do is hope that its existing insurer will renew" - Beaufort Group's Simon Goldthorpe.
“As a result, we now have a situation where firms that are already insured are struggling to change insurer, and the best an adviser business can often do is hope that its existing insurer will renew" - Beaufort Group's Simon Goldthorpe.
  • LinkedIn  
0 Comments

A “fragmented and barely functioning” professional indemnity (PI) insurance market is “the biggest threat to adviser businesses” in 2020, Beaufort Group chairman Simon Goldthorpe has said.

Goldthorpe said there was a "clear fallout" from the move by insurers to step back from the PI market: "The PI insurance market has seen a huge contraction in the number of insurers operating within it....

More on Insurer

More news