Insight

Solicitors' Market Report - July 2023

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The market is changing and there is a lot to talk about. Our solicitors’ PII team is keeping you informed so you can plan for renewal in 2023.

The latest edition of our bi-annual Market Report, written specifically for law firms, is now available.

At last, we can be cautiously optimistic that we have moved on from the challenges of a hard market to a position of stability, with a promising outlook ahead.
 
As always there are caveats, particularly given the current economic environment, but the message in this Market Report is more positive than it has been for some time. That’s a breath of fresh air for us at Howden and we are sure it will be for you too.

Watch our welcome video from author Jenny Screech to find out what we're talking about in this edition. 

 

 

Jenny Screech Solicitors' Market Report videoClick on the image to watch.


In this edition we discuss the April 2023 PII renewal; provide a forecast for those yet to renew in 2023; highlight the issues currently on your PII underwriter’s radar; and, update you on claims activity. This will provide you with useful insight as your next renewal approaches.

We also explain co-insurance arrangements; review cover for consultants under your PII policy; discuss the SRA’s new rules on health and wellbeing; and, highlight the resolution of PSYROC - good news for law firm mergers and acquisitions.

Howden's Solicitors' Market Report July 2023

We examine the outcome of the April 2023 PII renewal, provide a forecast for those yet to renew in 2023; highlight the issues currently on your PII underwriter’s radar; and, update you on claims activity.

Jenny Screech

Written by Jenny Screech LLB (Hons)

Legal Consultant, Howden PII