UK Professional Indemnity Market 2017: Key Players: Zurich, Travelers, AmTrust, Lloyd's and More

WiseGuyReports published new report, titled “UK Professional Indemnity Market”

Summary

"UK Professional Indemnity Market Review 2017", provides an in-depth analysis of the UK professional indemnity insurance market. It looks at market size as well as changes in premiums, claims, distribution, regulations, and future opportunities. It provides a thorough overview of the market along with a GWP forecast for the coming years.
The soft market conditions that have characterized the UK professional indemnity insurance market in recent years may finally be coming to an end. The winds of change are starting to blow, with premium rate rises and a reduction in capacity widely anticipated in 2018.

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Companies mentioned

AIG
Zurich
Travelers
QBE
AmTrust
AXA
Lloyd's

Scope

- The UK professional indemnity market is estimated to have been worth £1.64bn in 2017.
- Much of the growth in underlying demand is occurring among non-traditional professions, and in particular among SMEs.
- Hiscox and AXA are the largest UK PII SME insurers.

Key points

- Benchmark yourself against the rest of the market.
- Ensure you remain competitive as new innovations and insurance models begin to enter the market.
- Adapt your distribution strategy to ensure it is efficient and still meets customer purchasing habits.

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