First Title Insurance has broken into the solicitors' professional indemnity insurance market by teaming up with Ink Insurance.

The partnership will target high-street law firms with up to 10 partners which specialise in good conveyancing services.

First Title Insurance chief executive John Maidens said: "We’ve been watching the situation very closely over the last few years and believe that now is a good time for us to enter the market with confidence."

If conveyancing risk can be reduced then solicitors' PI premiums could drop, Maidens added.

Ink Insurance managing director Mark Addis said: “We are delighted to be involved in this initiative which aims to broaden the PII options currently available."

First Title Insurance has A- ratings from AM Best and Fitch as of July 2011.

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