Insurance2day Insurance Services Ltd

Solicitors Professional Indemnity Insurance premium income decreased from £243 million in 2003 to £200 million last year however it looks like soft market condition are coming to an end. Reasons cited for the anticipate increased in professional indemnity insurance premiums for solicitors include the increasing number of claims in all areas as well as the current economic downturn. It is thought that the growth in the property market in recent years may have catalysed poor lending practices and slack procedures by some firms of solicitors.

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