Hammond PI Blogs Advisers face PI premium hike following collapse of Quinn
| Advisers face PI premium hike following collapse of Quinn |
| Written by Dave Hedgecock | ||||||
| Tuesday, 06 July 2010 13:06 | ||||||
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An increase in professional indemnity (PI) insurance claims and the collapse of a major insurer means IFAs are facing hikes in their premiums. Northern Irish insurer Quinn Insurance, which provides professional indemnity insurance to a large number of IFAs, was placed in administration on April 15 and although current PI policies with the insurer are still valid, Quinn Insurance has stopped writing new business in the UK. IFAs with a Quinn Insurance policy will have to seek a new insurer when their current policy comes up for renewal, possibly increasing the cost. 20 April 2010
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