Solicitors Professional Indemnity – Renewal Tips

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With the deadline for Solicitors Professional Indemnity renewals fast approaching, The Crotty Group has gathered some tips, to help make the whole process as swift & safe as possible.

Solicitors PI Renewal tips…how to extract the very best from the market!

  1. Keep in mind, Practices which are well-run, who can demonstrate good risk management, with an acceptable claims experience will have no issues at the 2013 renewal
  2. Ensure that you complete the proposal form correctly and early.If you need any help or advice here you can Live Chat with one of our experts
  3. Ensure that you enclose up to date confirmed Insurer claims experience
  4. If you have a claim, provide as much detail as possible e.g. what happened, who was responsible, what’s happening with it now, what have you done to prevent a similar issue arising in the future
  5. The more information provided about your business the more an underwriter understands your risk – only so much an underwriter learns from a proposal form
  6. Include an overview of your firm – How has it performed in past 3-5 years and what are the plans for the coming years (3-5 year)

Key buying points for a firm:

  • Broker expertise and relationship
  • Insurer experience and track record in your Market
  • Financial Security and Stability of Insurer(s)
  • Competitive and Sustainable premiums
  • Claims handling expertise
October 2, 2015