Solicitors facing five-fold rise in insurance costs

Professional indemnity insurance (PII) premiums for solicitors could rise fivefold this year, according to one Dublin insurance broker.

27th November, 2010

Professional indemnity insurance (PII) premiums for solicitors could rise fivefold this year, according to one Dublin insurance broker.

‘‘We have heard reports of premiums being increased from €15,000 to €75,000 for single practitioners, an area where only two insurers are currently offering new business terms,” said Eimear Lane of McGivern Flynn.

All solicitors must have a PII insurance policy in order to stay in practice. Policies are due for renewal on Wednesday,...

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