Professional Indemnity Cover Problems
Problems With Your Professional Indemnity Cover?
If your Professional Indemnity Insurance has become difficult to arrange, your premium has increased substantially, an insurer has declined to provide cover, or claims or other circumstances are affecting the terms available, Professional Liability Brokers may be able to help.
We specialise in Professional Indemnity Insurance and can assist businesses and professionals whose circumstances may fall outside standard online or mainstream insurance schemes.
Common PI Cover Problems
Having Difficulty With Your Professional Indemnity Insurance?
The following are some of the main problems that may cause a business or professional to approach PLB for assistance.
Premium Increased Significantly
Your existing or proposed Professional Indemnity premium may have increased substantially, even where there has been relatively little change in the business.
Cover Declined
An insurer may have declined to offer new cover or advised that it is no longer prepared to continue providing insurance.
Renewal Declined
Your existing insurer may have decided not to offer renewal terms.
Previous Claims or Circumstances
Previous claims, notifications or known circumstances may reduce the number of insurers willing to consider the risk.
Terms or Cover Restricted
An insurer may offer cover but introduce new exclusions, higher excesses, reduced limits or other restrictions.
Difficulty Obtaining Quotations
Standard online insurers, existing brokers or other insurance providers may have been unable to provide suitable terms.
Business Activities Have Changed
New services, contracts, projects, turnover or higher-risk activities may make the business more difficult to insure.
Required Cover Is Difficult to Obtain
The business may require particular limits, extensions, retroactive cover or contractual requirements that standard insurance products cannot easily accommodate.
Understanding the Market
Why Has My Professional Indemnity Insurance Become Difficult or Expensive?
Professional Indemnity insurers regularly review the types of business and professional activities they are prepared to insure.
Cover can therefore become more difficult to obtain because of factors including:
- previous claims or circumstances;
- changes in insurer underwriting appetite;
- significant changes in turnover or fee income;
- changes in professional activities;
- higher-risk contracts or projects;
- increased limits of indemnity;
- changes to contractual requirements;
- regulatory or professional-body requirements;
- changes in the wider Professional Indemnity insurance market;
- insurers withdrawing from particular professions or activities;
- requests for broader cover or fewer exclusions;
- adverse claims experience affecting a profession or sector.
An increased premium, declinature or restrictive quotation does not necessarily mean that no alternative insurance options exist.
A specialist Professional Indemnity broker may be able to consider alternative insurers or specialist markets.
Specialist PI Placement
A Specialist Approach to Difficult Professional Indemnity Risks
Professional Liability Brokers specialises in Professional Indemnity Insurance.
Where cover has become difficult to arrange, the solution may require more than simply submitting the same information to another standard online insurance scheme.
We can review the circumstances affecting the risk and, where appropriate, consider insurers or specialist insurance markets that may have a different underwriting appetite.
This may be particularly relevant where:
- an insurer has declined to quote;
- renewal has been refused;
- the premium has increased significantly;
- previous claims are affecting the available terms;
- business activities have changed;
- standard insurance products are unsuitable;
- the required limit or scope of cover is difficult to obtain.
We cannot guarantee that alternative terms will be available, but we can review the circumstances and establish whether there may be appropriate markets to approach.
Ask PLB to Review Your CoverWho We Help
Professional Indemnity Insurance for a Wide Range of Businesses
Your profession is only one part of the underwriting assessment. If you are having difficulty obtaining suitable Professional Indemnity cover, tell us what has happened and we can consider whether we may be able to assist.
Tell Us About Your Problem
Tell Us About Your Professional Indemnity Cover Problem
Complete the form below and a specialist Professional Indemnity broker will review the circumstances and contact you within one working day.
Supporting Documents (optional)
If you have any documents that may help us understand your Professional Indemnity position, you can upload them here.
These might include your current or renewal quotation, proposal form, policy schedule, insurer correspondence, claims information, endorsements, declinature or non-renewal correspondence, or any other relevant documents.
Uploading supporting information may help us understand the circumstances of your enquiry before we contact you.
PDF, Word, Excel, JPG or PNG. Maximum 10MB per file. Up to 10 files.
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Frequently Asked Questions
Frequently Asked Questions
Having Problems With Your Professional Indemnity Cover?
If your premium has increased significantly, your insurer has declined or restricted cover, previous claims are affecting your options, or you are struggling to obtain suitable terms, tell us what has happened.