Unrated insurer provided cover for 9% of the market

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The Law Society’s Insurers’ Guide has revealed Balva was the third biggest professional indemnity (PI) insurer by number of firms insured.

The unrated insurer provided cover for 9% of solicitors over 2012-13, with XL covering the biggest share of the market with 23% (see below).

Aon Risk Solutions was the largest solicitors’ PI broker, accounting for 42% of the overall market, with Prime Professions being the second biggest, arranging cover for 22% of solicitors (see below).

 

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