On 1 April 2010 Marsh completed the acquisition of HSBC Insurance Brokers Ltd. The new combined Marsh solicitors' Professional Indemnity team has a wealth of experience in supporting firms of varying sizes, from sole practitioners to multinational Top 100 firms. Our team can help your practice secure the right cover at the right price.

Last year's renewal proved difficult for many firms, particularly those at the smaller end of the market. The bulk of the increase was bourn by smaller firms. There were four new entrants last year; Hannover, XL, Lemma and Allianz. The introduction of this new capacity certainly helped to control premium increases, particularly in the mid-sector.

Exclusive solicitors' professional indemnity facility for 2 and 3 partner firms
With smaller firms finding competitive quotations increasingly difficult to obtain, we are delighted to announce that Marsh has negotiated an exclusive solicitors' PI arrangement for 2-3 Principal firms. HSBC Insurance Brokers Ltd and their clients have benefitted from this arrangement in previous years and now we are delighted to be able to offer our clients this product.

All indications suggest that the forthcoming renewal will again prove difficult. In particular, the Assigned Risks Pool (ARP) is causing insurers to consider their participation in the market, and of course their rates. (The pool is funded by a levy on the other Qualifying Insurers. Fears relating to the cost of this levy, combined with increasing claims costs, have resulted in a lack of insurance market capacity.)

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