The cost to a practice of Professional Liability Risk is now very
The Professional Indemnity Insurance Market is at its most volatile for many
years, with fluctuating premiums and self-insured excess levels contributed to
by inconsistent underwriting across the professions. For many practices, PII is
now consequently their biggest overhead.
Court decisions, contract terms, legislation, and regulatory changes have all
contributed to an increasingly complex web of potential professional
liabilities, which can also have serious consequences for the PII premiums and
self-insured costs of a practice.
Added to this are the indirect costs of dealing with the administration and
handling of claims, the potential loss of client business and reputation, and
the time and expense involved in maintaining compliance with professional
regulations, quality control systems and procedures.
Effective management of Professional Liability Risk is therefore essential.
However, this process takes both time and expertise.
MFL Professional, in association with specialist firms of solicitors, have
developed a comprehensive range of integrated advisory and support services
focused on minimising, controlling and managing the cost of Professional