Solicitors Professional Indemnity
December 1st is traditionally a time of uncertainty for many legal practices as Professional Indemnity coverages fall due for renewal. During this 2020 renewal season why not take a step to removing that uncertainty now and in the future by dealing with a Broker who has a track record of sourcing this cover for Irish Solicitors.
In recent times there has been some reduction in the number of PI coverage providers available to Solicitors in the UK which renews two months before the Irish Market. Coupled with this there has been a hardening of rates throughout the market. Some coverholders are not taking new business and the overall approach by Insurers will be cautious this year. We would advocate telling a good story touching such subjects as your processes, risk management, finances, covid resilience and previous claims history.
The good news however is that Crottys are aligned with providers who have performed well over an extended period and will be there to support us and our clients over the long term.
Given the current Economic climate this year we appreciate that in order for some firms to manage their costs is through financing options. We are here to help, talk to us about arranging to renew your existing finance or apply for a new finance application.
TIPS FOR A SUCCESSFUL RENEWAL – A Specialist, Speedy and Quality Presentation
- Use a Specialist who knows the market. Crotty’s specialist team and long track record is key here.
- Speed is of the essence. It is our experience that the best preparation for a successful renewal of coverage is going to the market early. The longer we have your details the more effective the Marketing of your risk which will result in the best outcome for your Practice.
- The Quality of your Presentation counts. Are you on top of any claims issues.What steps have you taken to ensure similar incidents do not reoccur. Let us help you demonstrate a risk management approach to get the best results at renewal.