At the telematic broadcast, a FSP shared his rude awakening when he received his annual review and premium increase from his PI cover provider. There was a substantial increase in the premium, far more than the inflation rate, and we urge readers to check the facts before signing the document.
I recall that this was one of the outcomes in the UK when PI claims started increasing as a result of contraventions of regulatory legislation. The unsuccessful appeal by Deeb Risk and his PI provider against the determinations by the Ombud, appears to confirm that there is concern about a potential increase in claims, hence the hike in premiums.
This is a bit like the accused in an assault case who, when asked to give his side of the story, said: “I thought he was going to hit me, so I hit him back first.”
