Blog: PI under pressure
The evolving PI landscape presents significant challenges not just for insureds, but their brokers and insurers as well, says Danny French of Aqueous Underwriting.
Last year presented a significant shift in direction for the UK PI market as a whole, following a marked change in appetite for construction related risks off the back of the Grenfell tragedy. Followed by Lloyd’s implementing Decile 10, many PI markets, especially those sat inside Lloyd’s, were forced to re-evaluate their PI trading strategies, or face cessation of underwriting.
Conversations with capital providers have in the round become a lot more challenging with many markets working around
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