Four new entrants to the market yet prices continue to rise
Solicitors Regulation Authority figures show that solicitors paid £15m more to insurers for professional indemnity insurance this year, the Law society Gazette reports.
The cost of insuring the profession rose from £226m in the 2008/09 indemnity year, to £241m in 2009/10, a rise of 7%.
Four new insurers entered the market this year – XL Insurance, Allianz, Inter Hannover and Lemma. They were paid £41.5m in premiums, taking a 17% market share.
AIG Europe was the biggest, with a 15.2% market share, followed by Travelers Insurance Co with 13.4% and Zurich Professional with 12.8%.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
