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Preparing for the 2020/21 PII Renewal round

22 May, 2020

The 2020/21 PII renewal round, comments from CLC Director of Regulatory Standards, Simon Blandy.


All CLC Practices must renew their PII policies by 30 June 2020.

Overview of the current Insurance Market

Insurers in the commercial insurance sector have reported losses since 2017 (see review).  They are rethinking their strategy, with many cutting capacity or even withdrawing entirely from certain lines of business or from some countries.  Recent price rises have been most pronounced in the UK and Australia/New Zealand with the highest price increases in financial and professional liability.  The commercial insurance sector is unlikely to start moving to profitability until the second half of 2021.

A commentary on the SRA sector reports many practices paying more for their insurance in October 2019 and this trend continuing into the spring 2020 renewal season, though a minority have seen premiums stay the same or even cut.

Similar pressures will impact on PII renewal for CLC practices.  Whilst they are aware of the pressures on your businesses after a period of enforced lockdown, all insurers have warned that pre-existing conditions in the insurance market means that practices should expect an increase in premiums which may exceed 15%.

What you need to do

So this year, more than any other, you must make sure that you renew your PII policy in good time before 30 June:

  1. ask your PII broker to send you a Proposal Form as soon as possible, if you have not already received it
  2. spend the time needed to complete your Proposal Form fully and frankly
  3. if you have made a claim on your policy, explain what steps you have taken to avoid further claims arising
  4. return your completed PII Proposal Forms as soon as possible
  5. if you are interested in securing premium finance tell your broker when you return your proposal form
  6. ensure you provide the premium finance provider promptly with all the information and documents requested
  7. if you would like terms from other insurers, apply for them when you submit your proposal form:

a. some brokers are able to secure terms from more than one insurer

b. asking different brokers for terms from the same insurer is unlikely to result in a lower premium

8. respond promptly when you receive renewal terms:

a. if they are agreed, accept them

b. otherwise, raise your query

9. be realistic.



PII renewal must be a priority.

You are most likely to obtain the best terms from you current PI insurer.