Does your law firm have questions ahead of its next PII renewal? banner

Does your law firm have questions ahead of its next PII renewal?

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We respond to FAQs for 2024

  1. Do insurers still have an appetite to offer PII to law firms – and are there any new insurers we could consider?

The answer to both questions is a resounding “yes”! Let’s start with the good news about new insurers entering the market. In August 2023 the solicitors’ PII team at Howden introduced a new A-rated facility with Lloyd’s of London insurers. This facility was the first meaningful new capacity to be introduced to the solicitors’ PII market for some years. It is exclusive to Howden and builds on our existing access to one of the widest selections of insurance providers available through a single broker.

Another insurer, Fortegra, opened for business in the solicitors’ PII market in September 2023 and they are accessible to Howden. More new capacity (namely Alchemy Underwriting) is also expected in 2024 and they will likewise be accessible to us.

And we must not forget existing markets, many of whom have been writing solicitors’ PII since the start of the open market in 2000. We are also seeing an increased appetite for new business from this group of insurers.

In short, all is well when it comes to capacity in the solicitors’ PII market.

2. What is happening with premiums?

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