Freelance Professional Indemnity Insurance, PI Insurance,Professional Liability Insurance company logo  
home introduction Indemnity Insurance Products Professions Why Us Contact Us

Professional Indemnity Insurance premium income reporting loophole to be closed

Get a Quote

The Solicitors Regulation Authority is to make some changes to its rules (specifically the Qualifying Insurer’s Agreement) to close a loophole that has enabled some professional indemnity insurers to reduce their contributions to the Assigned Risks Pool (ARP). In general terms, the greater the amount of professional indemnity policy income that a qualifying insurer earns from solicitors, the greater the amount they should be paying in to the ARP.

But as the rules currently stand, multi-year polices have provided an opportunity for insurers to under report that premium income. Effectively, there has been a ‘window’ period during which premiums due on certain multi-year policies did not have to be declared as such. Not for much longer however. Amendments to the wording of the Qualifying Insurer’s Agreement have been approved. And all qualifying insurers have been informed.

Professional Insurance
Freelance Insure Sitemap
Main Links Products Insurance For Professions Useful Links
About Us
Why Us ?
Contact Us
Our Offices
Site Map
Get a Quote
Compare Our Prices
Professional Indemnity Insurance (PI)
Combined Business Insurance
Legal Expenses & IR35 Insurance
Personal Accident & Travel
Health & Safety Insurance
IT Contractors
Consulting Engineers
Construction Contractors
Management Consultants
Interim Managers
Social Workers
Contact me at Renewal
Request a Call Back
Professional Indemnity Insurance
Indemnity Insurance
Public Liability Insurance
Professional Indemnity Insurance UK
Resources & Links
  Copyright © All Rights reserved. Valid XHTML 1.0 Transitional FSA Verisign