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!
- 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
- 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
- Ensure that you enclose up to date confirmed Insurer claims experience
- 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
- The more information provided about your business the more an underwriter understands your risk – only so much an underwriter learns from a proposal form
- 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