With concerns about negligence claims against the legal profession, Elite Insurance has withdrawn from the English and Welsh solicitors' professional indemnity insurance market.
The company, which entered the market in 2012, confirmed that all existing policies will continue until expiry but that renewal terms will not be offered.
In particular the insurer listed reducing premium rates, increased propensity to fraud on solicitors' client accounts and the proposed increase in the small claims market affecting personal injury firms as being factors behind its decision.
If your broker has insured your firm with Elite and you wish to discuss your alternative options in 2016, please contact us on 0345 251 4000 or email us at support@professionalindemnity.co.uk