Paper trials: Conveyancing and the Building Safety Act lawgazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lawgazette.co.uk Daily Mail and Mail on Sunday newspapers.
Paper trials lawgazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lawgazette.co.uk Daily Mail and Mail on Sunday newspapers.
Covid-19 has helped to deliver the hardest market for solicitors’ indemnity insurance since demutualisation more than 20 years ago. Eduardo Reyes reports from the Gazette’s latest roundtable
Eduardo Reyes, Law Society Gazette
Patrick Bullen-Smith, of broker Hera, speaks for the group: ‘It’s hard and, if anything, it’s got harder since October with reduced capacity and lots of claims.’ He relates increases in the cost of PII cover of 10-15%, which come on top of last year’s rises of 30% for many. Insurers ‘are not necessarily offering renewal terms to firms, so you really do need to put yourself in the best possible light’, he adds. ‘Property development work is a real catch-all area that they are really shying away from. So, if you do property development work [you must] really, really explain it. Go down to the nitty gritty of what it is you actually do.’