The professional indemnity (PI) market has been through its sharpest softening since the 2018 to 2021 hard market, and plenty of risks are now doing the rounds. Not all of them are meant to be placed.
Kirsty Blois (pictured), lead professional indemnity underwriter at Norwich-based managing general agent Glemham Underwriting, said some are sent only to get a feel for the market or a benchmark.
"Sometimes brokers are simply exploring the market to understand appetite, compare options, and ensure they achieve the best possible outcome for their client," she said, adding that it remains uncertain how long the current soft market will last.
With so much in circulation, motivation is one of the first things Blois looks for. A submission from a broker she works with closely gets her attention, because "they know how we work, they know our appetite", she said. Beyond that, its helpful if the email explains whether the client is genuinely looking to move from the current insurer, perhaps because of a problem with its existing insurer or inadequate cover, or whether simply exploring the market.
The quality of a submission can change her view of the same underlying risk "hugely", she said. With everything set out clearly, it is easy to decide whether to write a risk and on what terms, and a strong submission shows the broker understands their customer. Incomplete proposal forms remain a frequent frustration.
"We don't want to be going backwards and forwards and asking loads of questions because that can delay things and we like the process to be as smooth as possible for the broker & customer," she said.
Difficult or distressed risks need a strong broker presentation, Blois said. Where there is a claims history or a large loss, that means explaining why it happened and demonstrating what the client has changed, including internal procedures and risk management.
Complex risks need a clear account of the work itself, including the scope of the client's responsibilities on larger contracts and projects, and a job title is rarely enough. "It could be badged up as a consultant, but that could mean a variety of things so its useful to have as much context as possible," Blois said.
She also looks for a proactive approach to risk management, including how a client manages its terms and conditions.
Some selling points carry less weight than may be expected. A client that has never had a claim is a positive, Blois said, but it "doesn't necessarily mean they're not ever going to have one". She still needs to understand the underlying exposure in detail.
Even in a soft market, some risks are not worth chasing. "Sometimes the premium expectation is unrealistic for the exposure, and it's at that point as underwriters that we have to unfortunately walk away if we are unable to compete," she said.
The same risk arriving from several brokers is also a red flag. "It's always better to work with one broker who really understands your business," Blois said. A client's attitude to insurance and risk management can also change her view, even on an otherwise good risk.
Blois said exposures such as AI and the extended limitation periods for certain claims under the Building Safety Act is something to be mindful of and we are keeping a close eye on how these exposures develop. Howden's 2026 market report on engineers' professional indemnity insurance also points to longer limitation periods.
The PI market is small for some risk, Blois said, and strong underwriter relationships can help brokers win business. But familiarity alone does not make a risk worth writing: the submission still needs to explain the exposure, demonstrate any improvements and support a realistic premium.
