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Elite became the only option for many firms that couldn't afford cover elsewhere or simply weren't willing to pay market rates. One could argue that this 'bad' underwriting is the reason Elite are withdrawing; with claims costs in many areas still continuing & new claims for fraud having a considerable impact, writing Solicitors' PII is not a cheap business. This is the very reason SIF was on the verge of collapse in 2000.

There are of course other challenges, but the sooner more firms engage with insurers & brokers to properly embed a culture of risk management, allowing insurers to better understand the profession and improve their margins, the better for all concerned.