In the current climate, PII renewal can be an anxious affair. Simon Goldthorpe discusses increasing excesses, costs for network firms and if things aren't working out if it is time to reassess membership...
It was recently professional indemnity insurance (PII) renewal time for the subsidiaries within the Beaufort Group. Never the most joyous of tasks, we are grateful that our premiums were broadly flat year on year. Crucially, we also maintained our excesses, something we know from speaking to peers is not the case for many businesses. We are now all familiar with the issues facing the PII market at large. Following a huge contraction in the number of insurers operating within it, some firms that are already insured are struggling to change insurers, and the best an adviser business can...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.