For many years the accounting industry has been operating in a ‘soft market’ for professional indemnity (PI) insurance. In this market, insurance premiums are quite low with broad policy wordings (that’s good news for you).
Now we are beginning to see the early signs of a shift towards a ‘hard market’. This requires the attention of all accountants because:
- Premiums will typically increase – in the past we have seen increases of up to 20% in a hard market.
- Policy wordings often change – this can significantly impact your cover where policies become restrictive.
Don’t delay reviewing your current arrangements!
Contact Accountancy Insurance – the specialists in PI for accountants for an obligation free quote for PI Shield and lock in an affordable premium before the market shifts!