Archive | October, 2010

Former Chartis PI insurance underwriter joins Lockton

Stuart Dugdill, former underwriting manager for professional indemnity development for Chartis Professions Regions, is set to begin work at the Manchester offices of Lockton at the beginning of November.

ABI welcomes report on need for PI insurance market changes

The Association of British Insurers has expressed their approval of the findings of a recently published report that details the changes needed to the professional indemnity insurance market for solicitors.

Public liability claims cost Plymouth City Council

The Plymouth City Council has been reeling under a fusillade of public liability claims, due to trips and falls on paths and pavements generating a very high volume of fees and payouts.

Hiscox launches new professional liability insurance product

Insurer Hiscox has recently announced the launch of a new property and professional liability insurance product for associations, clubs, and charities.

Brit Insurance announces professional indemnity insurance promotion

Brit Insurance Group, an international general insurer and reinsurance specialist, recently announced it will be promoting underwriter Jonathan Mudd, previously of North American Professional Indemnity, to the position of class underwriter.

Case Funding Limited receives authorisation from the FSA

Insurer Case Funding Limited, specialising in litigation funding, before the event insurance, and after the event insurance, recently announced their status as newly receiving authorisation by the Financial Services Authority.

Dunster cobbles cause public liability insurance headache

After a stretch of pavement with uneven cobbles caused a high number of injuries, falls, and trips in Dunster, Somerset, the local council has developed a headache due to public liability insurance claims.

Property over-valuation fraud now leads to expensive future

Recently, professional indemnity insurance claims for residential property over-valuation, oftentimes perpetrated fraudulently by surveyors, had become commonplace. Despite this, the majority of the industry had no knowledge of the number of these claims since many of them were settled before going to trial.

Professional indemnity Insurance renewals increase by factor of four

Professional indemnity insurance broker Aon recently reported that it has been inundated by almost four times the usual number of solicitor proposals this year than it was in 2009.

Tax agents required to have professional indemnity insurance

According to a draft proposal released recently from the Tax Practicioners Board, both BAS agents and registered tax agents will be facing requirements to hold indemnity insurance from July 1 of next year.