In-depth - liability: The future of construction PI
Are there any solutions to the loss of capacity and increasing premiums in construction PI? Martin Friel investigates
It was ‘Decile 10’ – the Lloyd’s 2018 review of underperforming syndicates – that did it for the UK construction professional indemnity (PI) market.
The review found that PI was performing very poorly in a number of syndicates and insisted that remediation plans for these books be drawn up or risk being closed down. The response of many was to drastically reduce appetite or simply pull out of the market completely, which had an immediate knock-on effect across the market.
A poll of members of
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