My Professional Indemnity Insurance is up for renewal.
It's not as though I have a large practice and in over 30 years, my insurers have never had to pay out a single bean and yet the broker has this year significantly increased the premium by 39%.
In addition, for the first time, they want to charge a policy administration fee of £25.00, presumably for my having the audacity to renew my policy. I thought that was why they are paid commission ... to cover their overheads and produce profits.
I wonder whether I can get away with asking my clients for an extra fee for a similar reason?
I have asked the broker for an explanation for the huge increase but I expect I'll have to look elsewhere for my insurance.
Does anyone have any suggestions for very inexpensive PII, please?