A survey has revealed that 56% of solicitors believe their professional indemnity insurance premiums will rise this year.
Zurich Professional has commissioned research in order to gauge solicitors' attitudes to the costs of professional indemnity cover in what the insurer believes is destined to be the toughest renewal year since the demise of the Solicitors Indemnity Fund.
Solicitors surveyed predicted that insurance premiums will increase on average by 13% this year.
Jeremy Alwyn, sales and operations director for Zurich Professional said: "While it's too early to say how the market as a whole is performing, we believe that it is still fundamentally underpriced."
