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Can anyone recommend an inexpensive PII company?

Can anyone recommend an inexpensive PII company?

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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?


Replies (15)

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By ShirleyM
26th Jul 2012 20:00

ICPA include PII in the subs

I joined the ICPA, and I get membership and PII included for less than I paid for PII through a broker. You also get tax books each year (but pay postage on these) and a £50 discount off TaxCalc, plus some other perks.

I have never had a claim either.

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By Georgina Rollings
26th Jul 2012 21:36

Have you tried Bluefin? I've been pleased so far and on initial research they were cheaper than other brokers (eg Hiscox) for the level of cover I needed.

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By foxtrot
26th Jul 2012 21:52

Try Bluefin they were 50% cheaper than my previous insurer

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By SE_Confused
27th Jul 2012 08:18

try policybee - broker but gave me a lower quote with same insurer as i had before

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By bernard michael
27th Jul 2012 08:57

What level of insurance cost are you complaining about so I  can check mine is still cheap?

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By EW110
27th Jul 2012 13:03


I would recommend Sennet ( who are specialist PII brokers

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By Jacko
27th Jul 2012 13:13


QBE Jelf or AON are fairly competetive, both appear good to deal with.


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By Jimess
27th Jul 2012 16:43

Another recommendation for Sennet

Have been with them for years - friendly, easy to deal with and as the earlier post said, specialise in PII.

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31st Jul 2012 11:49

Simply Business

I use Simply Business and is half nearest quote from anyone else.

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By WML Brokers
31st Jul 2012 12:48

PI Insurance

Professional Indemnity Insurance

I have a number of specialist PI markets available 

Please give me a call happy to quote 

02392 350105

[email protected]


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By mydoghasfleas
31st Jul 2012 12:59

A little more information might help

As none of us knows what your premium is, none of us knows if your cover is "cheap" or expensive.  Similarly none of us knows your claims experience; the fact the insurer has never paid out does not mean there has not been a notification of potential claim or that you have settled at below the excess.

I suggest you look at ICPA too.  We opted out of the cover because we needed more cover on a diferent basis.

You also might consider using a broker who can market search for you.  They come to understand your business and can make representations to the insurer.  The advantage with a broker is the insurer cannot rely on inertia.

Have you really thought about your policy.  If you have no claims against you, might you be comfortable with a larger excess.  Is your top end cover excessive?

How accurate was your proposal on allocation of turnover?

My premium before last went up by £6,000 because there was a potential claim.  I notified the insurer although it's never going to pay out, there is no evidence of the advice alleged, given 20 years ago by a different unconnected firm, when we took the appointment 12 years ago.  We told the client to find someone else becuase we wanted nothing more to do with him.  Two years later still no claim the premium has dropped by £7,000 and potentially if no claim by this year end we get £4,000 of the £6,000 back.

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By dwgw
31st Jul 2012 14:14

But still no-one showing their hand ...

Is anyone prepared to say how much they pay?  It's anonymous, so can't see why someone wouldn't but the discussion's a bit meaningless without some numbers (hey, accountants!?)

I can't as I don't know what my firm pays but I'm curious because I might be in practice at some point.  I can't be the only one in the dark here!


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By pauljohnston
31st Jul 2012 15:43

I will come clean

I joined the ACPA for its inclusive membership fee and PI, it alao includes office insturance and legal protection.  I pay £648 for £250,000 cover plus another £80 to increase it to £500k cover.  Monthly payments are the way of paying.  I think excess is £500

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By Lahtac
02nd Aug 2012 23:01


In choosing your PI cover the most important thing (in my mind) is the solvency of the underwriter and their history of paying on a claim. Your broker should advise on this, some underwriters nit pick so you may not be covered because of some minor matter on a file. In addition if you have a claim you need to be able to have a broker who can work with you and your solicitor. as accountants we are well aware of firms charging rock bottom prices for tax compliance work but when Revenue call have they the resources and depth to look after their client? No such thing as a free lunch!

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By Eddystone
02nd Aug 2012 23:48

Admin fees.....

.......are one of my pet hates, so I was prompted to move cover recently for a couple of cottages we let to an broker who was a) less expensive, b) didn't charge an admin fee and c) gave better cover.

As SimonP commented earlier, brokers have always had commission so as far as I can see this is just a way to rip off customers. I mean, if you go to WH Smiths and buy a Telegraph you're not charged an admin fee, are you ?  When we changed our car a few weeks ago I was looking at a car supermarket website, but quickly moved away when I saw that they also charged an admin fee !

But Bluefin gets my vote for PII cover too, I think I pay about £38 per month for my small home-based practice of 120 or so clients. I did actually have a small claim of £3k about 2 years ago, too, but it made not an iota of difference. All so amicable that, when the clients got the money, we all had an evening out in an expensive restaurant !


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