Capacity to dominate PI market trends in 2025 as report outlines rate decline
Professional indemnity rates have fallen at a speed that has surprised many, according to the fourth edition of the UK PI Market report from law firm, Clyde & Co.
The publication – which surveys PI market professionals, including underwriters, claims managers and brokers – found that 56% of respondents expected there to be a levelling off of the market after two years of increases, with zero rates increases in 2024.
However, rates have subsequently fallen at unprecedented speeds, driven by the entry of new carriers or MGA capacity, according to Clyde & Co.
Manchester, in particular, appears primed for significant development. The city’s urban growth and
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