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Berliner PII blow

12 September 2013
Issue: 7575 / Categories: Legal News , Profession
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Transfer problems in professional indemnity insurance market

Hundreds of law firms seeking to renew their professional indemnity insurance (PII) have been dealt a second blow, after German insurer Berliner Versicherung indicated it may not be able to offer cover after all. In June, Latvian insurer Balva went out of business, affecting about 1,300 firms. Most of these firms had expected to transfer to Berliner, but Apro Management, brokers for Berliner, has now said it may not be able to offer cover for the year starting in October 2013.

Simon Lovat, PII specialist at brokers UIB, said insurance fees may rise as a result for those still looking for cover: “The potential for about 1,100 practices coming into the market to buy PI insurance so soon before renewal, pose a significant challenge to brokers and insurers, who are already working at near capacity.”

Issue: 7575 / Categories: Legal News , Profession
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MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

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