An interesting article from my colleague Janine Parker, in conjunction with The Law Society.
Janine discusses the hard market from a PI insurance perspective.
When we brokers lay our weary heads on our pillows at night, our minds drift to a place where insurance capacity is plentiful, and underwriters quote without hesitation. Day after day, we wake to a very different reality. The pandemic has caused insurers to question their underwriting performance expectations and future risk assumptions. Uncertainties surrounding issues such as the general economic outlook and the prospect of firm failures set this hard market apart from those before it. So, what, in practical terms, are the implications of a hard market for your firm?