The Professional Indemnity insurance season always leads to a multitude of proposal forms being generated by from both your exisiting broker and a host of other intermediaries professing to specialise in this area, asking you to complete and return their forms. There are only a limited number of Insurers out there and if you send your details to a multitude of brokers they end up on the same desk!
Our advice – DON’T WASTE YOUR TIME!
The reality is that there is no need to complete more than one form and equally there is no need to deal with more than two brokers in order to obtain competitive quotes. In fact quite the contrary, insurers have told us that if they see your form from to many sources, they are less likely to give it their full consideration.
The 2020 Lawyers Group works with two highly respected brokers with considerable experience in dealing with the insurance requirements of solicitors ranging from PI and office to partnership protection and specialist legal indemnities. They have access to all leading insurers.
Our recommendation is that you obtain renewal terms from your current brokers and approach 2020 for alternatives. You can either let them work from a copy of your renewal form or complete their own bespoke form.
Please Don’t send 10 proposal forms out to the market – the insurers will be sick of seeing the same form from all these brokers and could refuse to quote!
