31 January 2020
As I am sure you are already aware the PI market has hardened dramatically in the last year or two.
The tragic Grenfell Tower fire in 2017 had a serious impact on terms available for Design and Construct PI and other classes. Also, the findings of a Lloyd’s Strategic Review had reported PI as the second worst performing area of the Market, only US Property produced a worse result.
As a result we are now routinely seeing significant premium increases, lower Limits, reduced lines and a move from Occurrence to Aggregate basis, and sometimes a combination of all of the above.
Directors & Officers cover has also become much more difficult to place in some cases.
It's no surprise then that over the past two to three years we have received and increasing number of PI and D&O enquiries. We have developed an improved knowledge of the market along with an extensive panel of specialist insurers.
We would be happy to use our knowledge and experience to assist you with any new business prospects or upcoming renewals, where you are expecting difficulties.
Please contact David Horne for a quotation