Opinion: High price of cheap PI cover

July 2013
Lawyer (Online Edition);7/1/2013, p25
Trade Publication
The author offers insights on the run-off cover provided by compensation funds to firms that have been forced to close as a result of the insolvency of their professional indemnity (PI) insurer. According to the author, consumer-focused financial protection is at the center of this issue. He argues that the minimum terms of PI insurance to be carried out is biased in favor of the consumer.


Related Articles

  • Solvency Regulation in the Property-Liability Insurance Industry. Hamwi, Iskandar S.; Hudson, Tim; Chen, Yueyun // International Advances in Economic Research;Nov2004, Vol. 10 Issue 4, p313 

    This paper evaluates guaranty funds and solvency regulations. One main question addressed is how solvency regulations will benefit consumers. Many previous studies have found that most forms of solvency regulations do not have significant deterrent effects on insolvency. Even when solvency...

  • Causal Factors in P-L Insolvency. Anderson, Dan R.; Formisano, Roger A. // Journal of Insurance Regulation;Jun88, Vol. 6 Issue 4, p449 

    The authors have collectively been involved in the analysis of six different insolvencies of property-liability insurers. They have noticed surprising similarities in the causal factors associated with these insolvencies. Because of the economic and regulatory significance of insurance company...

  • Commercial general liability.  // National Underwriter / Property & Casualty Risk & Benefits Manag;9/18/95Supplement, Vol. 99 Issue 38, p61 

    Lists insurance companies offering commercial general liability coverage. Includes those for adverse condemnation; AIDS/HIV risk; Amateur athletic programs.

  • Umbrella & excess liability.  // National Underwriter / Property & Casualty Risk & Benefits Manag;9/18/95Supplement, Vol. 99 Issue 38, p142 

    Lists insurance companies offering umbrella and excess liability coverage. Includes those for automobile excess liability; Buffer layer; Bumbershoot liability.

  • Some U.K. Firms Face Liability Crisis. Howard, Lisa S. // National Underwriter / Property & Casualty Risk & Benefits Manag;8/26/2002, Vol. 106 Issue 34, p9 

    Reports in the increase in liability litigation in Great Britain affecting insurance companies as of August 26, 2002. Inability of medium-sized buyers of employers liability insurance to afford coverage; Adverse impact of law reform on the financial status of insurers.

  • To Care and Control-Or Not. Hillman, Bruce // National Underwriter / Property & Casualty Risk & Benefits Manag;6/30/2003, Vol. 107 Issue 26, p21 

    Comments on the impact of the commercial general liability (GL) policy's care, custody or control (CCC) on the business operation of insurance companies in the U.S. Assessment of the insurance coverage of firms at the time of loss; Interpretation of the CCC provisions of the GL; Definition of...

  • Nursing Home RRGs Form First Time Since LRRA Passage. Cutts, Karen // National Underwriter / Property & Casualty Risk & Benefits Manag;8/18/2003, Vol. 107 Issue 33, p29 

    Comments on the formation of risk retention groups (RRG) providing liability coverages in the U.S. Role of the Liability Risk Retention Act on the formation of RRG; Objectives of RRG; Effect of rate hikes on RRG.

  • Driving the Defense. Paar, Randy; Sherwin, Elizabeth // Best's Review;Oct2002, Vol. 103 Issue 6, p87 

    Explains strategies for liability insurance companies in the United States to improve the efficiency of providing a defense attorney for policy-holders when sued. Discussion of ethical guidelines to follow; Strategies for managing defense.

  • Insurers chip away at E&A liabilities. Simpson, Eric M.; Dolson Smith, W. // Best's Review / Property-Casualty Insurance Edition;Apr96, Vol. 96 Issue 12, p38 

    Focuses on the challenges posed by environmental and asbestos (E&A) liabilities to American insurance companies. Effect of E&A liabilities on insurance companies in 1995; E&A exposures as a source of competitive advantages and disadvantages in the industry.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics