Money Covid-19 (Image: Shutterstock) UK Law Firm Leaders Brace for Another Year of Insurance Premium Rises
Law firm leaders and insurance brokers anticipate another year of double-digit rises in insurance premiums, with many in the industry concerned.
February 12, 2021 at 07:32 AM
11 minute read
"It is a real issue," said one U.K. managing partner, reflecting on another year of bruising rise in law firms' professional indemnity insurance premiums.
On top of the financial uncertainty wrought by the pandemic, top law firms are bracing themselves for a rise in their professional indemnity premiums of around 20%, according to multiple people both within law firm management, risk and in insurance brokerage firms.
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