Written by: Griffiths and Armour on: 07 Oct 2019

Professional Indemnity Insurance: The supermarket revisited

It has been more than 10-years since Griffiths & Armour published ‘Professional Indemnity insurance: the not so super market’, a paper written as the financial crash of 2008 took hold and the talk in the insurance industry was of insurer withdrawal, a hardening market, increased cost, restricted class wordings and generally challenging times.

Given where we are today, still surrounded in continued political and economic uncertainty around Brexit, with volatility rife in the global political system and the problems and promises of profound advances in technology, one might be forgiven for thinking of them as naïve times, halcyon days even, where the world was simple, predictable, boring even. Boring times these are not and in the problems of the present, there is much to interest those involved in the buying and selling construction professional indemnity (‘PI’) insurance.

The construction Professional Indemnity insurance market is in a state of flux. Although Griffiths & Armour clients can expect less choppy waters than most, we feel it is the right time to explore the key drivers behind the market changes and what might happen to the market in the second half of 2019 and early 2020.

For more information, download the P.I. Insurance document below:

If you found this article useful, you may be interested in the following insurance solutions:

  • Professional Indemnity Professional service protection for claims brought against you by a client.
  • Office Covering the cost of accidental damage, breakdown, lost or stolen office equipment.
  • Cyber Risk Protection in the event of a data breach or a malicious cyber attack.
  • Directors’ and Officers’ Protecting your personal liabilities and assets in the event of legal action.