Insurer and underwriter team up to provide indemnity insurance

One business liability insurance provider has recently announced it has teamed up with an underwriting specialist in order to provide indemnity insurance to law firms in need.

Business insurance providers First Title Insurance, following their assessment of the professional liability insurance market, announced the team up with Ink Underwriting Agencies in order to build upon their long-standing position and expertise as one of the market leaders in mitigating risk for professional firms.  First Title Insurance chief executive, John Maidens, remarked that the insurer has been watching the market over the past few years very closely and believe that the time is right for the company to enter the marketplace confidently.

Mr Maidens added that the new policy offering not only fits with First Title’s overall strategy to aid in addressing the issues inherent in conveyancing risk for both solicitors and consumers but was also the perfect opportunity for the insurer to make an investment into the indemnity insurance market.  The new policy was developed in collaboration with Ink’s skills in underwriting the particular complexities of indemnity insurance, and will be marketed towards high street legal firms with ten partners or less, and the cover specialises in providing best practice and high quality conveyancing services.

Ink Underwriting Agencies managing director, Mark Addis, also commented on the new partnership by expressing his delight at their involvement in this new initiative.  The collaboration, which Mr Addis called ‘exciting,’ aims to broaden the range of options available currently to law firms for their professional liability insurance cover, with the skills and expertise of Ink complementing those of First Title to provide the new policy.

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