Ahead of renewals, Marsh has launched of a new service designed to assist smaller practices secure solicitors’ PI insurance cover from major insurers.
In addition to a range of benefits, Marsh is offering two to three-partner firms exclusive access to legal and professional insurance, part of Liberty Mutual Insurance Europe, and four to ten-partner firms exclusive access to XL Insurance for solicitors’ PI cover. Both insurers are rated A (excellent) by AM Best. As a result, smaller firms can secure, through Marsh, the comprehensive insurance provision enjoyed by many of the largest
100.
“PI renewals have become increasingly difficult and costly for many firms outside of the top 100,” commented Janine Parker, head of UK solicitors’ PI at Marsh. “Rates have continued to climb and the number of firms in the Assigned Risk Pool has risen dramatically. Many smaller firms with excellent records are experiencing real difficulty in securing PI insurance at reasonable terms.
“As the renewal date approaches, Marsh has brought together the expertise of leading solicitors’ PI insurers to offer a measured alternative to the annual scramble for insurance cover that many smaller firms endure,” she said.
As well as obtaining quotations from its panel of financially secure insurers, Marsh’s service aims to offer a range of flexible premium payment options, claims handling by claims handlers specially-trained in solicitors’ claims, and accredited risk management training.
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