Brunel Professional Risks, saw a record rise in the number of solicitors’ practices placing their professional indemnity insurance (PII) business through the firm by the 1 October renewal deadline.
Over 150 law firms placed their PII through Brunel, with a significant number of insurance brokers accessing solicitors’ PII markets for their clients through Brunel’s new wholesale broking division. Access to the ‘whole of market’ advice, specialist expertise in solicitors’ PII, and a surge in the number of firms offered uncompetitive rates by competing brokers led to Brunel’s record renewal, the firm believes.
Russell Lane, Managing Director, Brunel Professional Risks, says: “We were able to achieve significant premium reductions for many solicitor firms for their PII renewal this year and help others who were offered uncompetitive premiums by their incumbent insurers. As an independent firm we were able to access a wide range of markets and offer solicitors access to cover which was only available through limited distribution channels. We also helped many insurance brokers to access these markets for their solicitor clients through our new wholesale broking arm.”
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