Colonia quits PI.
Colonia Baltica has confirmed it is pulling out of the professional indemnity market, as reported by...
Colonia Baltica has confirmed it is pulling out of the professionalindemnity market, as reported by Professional Broking (December 1998, p2).
The insurer is ceasing to write PI business for architects, engineers and
surveyors.
It withdrew from solicitors' top-up indemnity in 1997. A statement from
Colonia said: "It is uneconomic for the company to continue to underwrite
this class of business for which the level of rates prevailing in the
market has fallen to historically low levels."
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