Archive | October, 2011

Indemnity insurance broker sees increase in activity

One indemnity insurance broker reports that the number of solicitor firms placing their professional liability insurance business through them increased for this renewal season, which ended on October 1.

Broker says advisers’ PI insurance premiums could increase

According to one professional liability insurance broking firm, professional indemnity insurance premiums for advisers could increase if insurance companies pay out on FSCS claims made against Keydata distributors.

Commercial insurance broker develops new agent product

One commercial insurance broker has recently announced the development of a new professional indemnity insurance product specifically designed for managing agents.

PI insurance expert questions FSA motives on award changes

One professional indemnity insurance expert has recently raised the question of whether there was any impropriety at play in the Financial Services Authority’s decision to propose regulatory changes on compensation awards.

SMEs delay purchasing PI insurance by 6 months on average

According to new research recently released by PolicyBee, freelance consultants and small businesses typically delay taking out professional indemnity insurance by six months on average.

500+ former Quinn-covered solicitors not affected by transfer

More than 500 of the Irish solicitor firms who have run off professional indemnity insurance with Quinn Insurance Ltd will not be affected by transfers of the former commercial insurance provider’s business to new owners, according to both Quinn’s joint administrators and the Irish Government.

53 firms fail to find PI insurance for renewal season, enter ARP

In the wake of the solicitors’ professional indemnity insurance renewal deadline of October 1, the Solicitors Regulation Authority has offered confirmation that at least 53 firms neglected to secure professional liability insurance by the deadline and now face entering the Assigned Risks Pool.

Discounted PI insurance cover scheme launched by provider

MortgageStream has recently announced the launch of a discounted professional indemnity insurance cover scheme for general and commercial insurance broking firms through a partnership with Collegiate Underwriting, a specialised provider.

HSE issues reminder to take out employers liability insurance

The Health and Safety Executive has recently issued a reminder to businesses to take out employers liability insurance in order to protect their employees.

Check IT firms’ business insurance credentials, expert says

If your business is currently considering making the move into the market for offering goods for sale over the internet through the use of parcel delivery, you need to check the business insurance credentials of any information technology firms you are considering using to do so, says one expert.