Purbeck launches fresh PGI cover
According to the MGA, the policy was designed as a response to insurers’ requirements of personal guarantees for run off claims.
Purbeck Insurance has launched a new professional risks personal guarantee insurance (PGI) policy. The provider has said the cover is specifically designed for the partners and directors of solicitors’ firms.
The annual policy reportedly provides insurance cover for the directors of solicitors’ firms that have provided personal guarantees to insurance companies in respect of professional indemnity insurance (PII) run-off premiums. Purbeck added the run-off premium would be estimated at 300% of
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