Is Brexit affecting Solicitors’ PI season?

Published On : 19 Sep 2016

Conveyancing is the bread and butter of many high-street solicitors in the UK. But how secure is conveyancing solicitors’ professional indemnity cover in the uncertain post-Brexit property market? And how can specialist underwriters like Pen help?

Past experience shows that when property prices slide, claims increase against solicitors who handle conveyancing. It’s a product of human nature: when an asset loses value, those on the wrong side of the deal tend to seek someone to blame. Solicitors often come into the firing line.

Many insurers don’t cover solicitors who carry out conveyancing and many don’t insure sole practitioners. This compounds the problem because smaller firms tend to take on a large share of this type of legal work.

How can Pen help?

Specialist underwriters, like Pen, have the expertise to provide the cover needed for conveyancing firms and sole practitioners and are best placed to give experienced advice in the event of a claim.

Plus, when times are uncertain, long-term insurance is beneficial, which is why Pen Underwriting offers two year cover.