This is our third annual survey of the UK professional indemnity market. This year we approach the PI market as a national market across the whole of the UK, recognising the established and rapidly expanding regional hubs which are now as much an integral and essential part of the PI sector as the traditional London market which they complement.
The report not only highlights the structural influence of the regional market but also reveals continued optimism around rates, availability of cover and appetite for PI business despite recessionary and economic pressures, and expectations that claims frequency and severity will increase.
There continues to be a real appetite in the market for PI business and many market participants are aiming for significant growth in professional lines. Against the current geopolitical and economic backdrop, this appetite for growth in the sector is a really encouraging indicator that the UK market is working well, with the survey results this year showing a renewed emphasis on risk selection and regular review of policy wordings
Rob Crossingham, Partner, Clyde & Co
Click here to read the 2022 Professional Indemnity Market report.
The report reveals widespread optimism about market conditions for the coming months, tempered by wariness of macroeconomic and inflationary pressures on the horizon.Read the 2022 report
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