Insurers set to move into small firm market
Broker Marsh is in discussions with two major insurers to open their doors to two- and three-partner firms, it has said.
At a press briefing last week, Janine Parker, head of solicitors’ professional indemnity, said that Marsh is ‘trying to put together a solution for two- and three-partner firms’ with ‘two A-rated insurers not currently insuring that segment’.
However, the company declined to name the insurers involved, or provide further details of the cover that will likely be offered.
More than 3,000 law firms and sole practitioners may need to find alternative cover during the coming renewals season because of the expected departure of Quinn from the market, and an announcement by Hiscox that it is pulling out of solicitors’ PII altogether.
Comments
Too Little Too Late
And what about sole practioners ?
And how competive will the premiums be for 2 & 3 partner firms ?
Re too little too late
Well seeing as noone else is going to be quoting 2 & 3 partner firms there won't be any competition for them to compete with!!
What about XL Insurance via
What about XL Insurance via Aon, dont they quote 2&3 partner firms?
Yes - XL will quote though
Yes - XL will quote though Aon
Connect2Law Scheme - all firms considered regardless of profile
All Connect2Law member firms will be considered regardless of profile and our offering this year includes sole practitioners, 2 and 3 partner firms.
PII
If it's not the MoJ/LSC kicking you hard in the tender parts (that's a pun) it's PI insurers.
Are there any sun soaked coral sand islands still part of the Empire that require a Governor?