Risk Presentation

Understanding how the underwriter thinks

A professional indemnity underwriter is not an AI robot and so creating the right impression of your business can be more important than you think.

Underwriting a corporate professional indemnity risk is not an exact science and in any given day an underwriter may be asked to consider anything from a small accountancy firm to a large international architectural practice as well as many other professions. So their job requires a blend of intuition, skill and a good knowledge of the specific risk exposures faced by many different professions from taxation problems to building design issues.

An underwriter may use a variety of information sources to help them to assess a risk and help form their view on the quality of a firm. The proposal form is the formal presentation of your business to an underwriter and so any spelling mistakes, questions not fully answered or illegible handwriting all make a firm appear lacking in attention to detail and ultimately a less attractive risk.

In addition to the proposal form the underwriter will often check a firm's website (to verify the activity information matches the proposal form), look for any news or press coverage online, reviews, credit score and visit Companies House all as part of a due diligence process.

You could be the most professional and lowest risk firm around, but if you don't present yourself in the right way to your PI Insurer your premium might not fully reflect it.

As professional indemnity specialists, we understand how the underwriter thinks and what they are looking for. We work with firms on their risk profile to ensure they pay the best premium for their business, translating our knowledge and expertise into a premium saving.

For more information, please call us on 0345 251 4000 or email support@professionalindemnity.co.uk.