Underwriter Inks £100M Solicitors Professional Indemnity Deal

Law360, London (July 31, 2020, 3:52 PM BST) -- A Gallagher-owned underwriter has secured a deal to write up to £100 million ($131.6 million) in professional indemnity insurance for solicitors in the next three years, despite insurers increasingly withdrawing from the market or hiking premiums.

Pen Underwriting said Friday the capacity deal represents a 20% increase in premium per year than what it has previously written.

In a statement, Pen said the market had proven "turbulent" in recent years.

"With a number of insurers and [managing general agents] choosing to exit the solicitors' PI market over the course of the last year, we know how much brokers value our long-term...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Related Sections

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!