Posted By Barbro122
I have asked an Insurance Broker to arrange Professional Indemnity Insurance for me and he has responded with a variety of extremely high quotations. I had been told in the past that this type of insurance is relatively cheap but this is not proving to be my experience. Can anyone identify a reasonably priced product please?

Posted By Phil Grace
Who told you it was cheap? On what basis did they reach that conclusion? Were they a buyer of such insurance, an insurance broker or did they work for an insurance company? Cheap is also a relative term - what might have been cheap to them might not seem cheap to you...!

Prof Indemnity market is small in comparison to Motor or EL markets, not many providers and some pretty large losses all of which tend to make premiums high...! And there aren't many H&S consultants so prices will be high.

Make sure you use a specialist broker. I'm sure there have been previous threads on this subject.

For an example consider solicitors. Their PI is renewed every year, at the same time for all solicitors. Last year there were c100 firms that failed to obtain PI on the open market and had to go into a special "pool" - which charges higher premiums. This year the number going into the pool was 250..!

Now I know you are not a solicitor but principles are the similar....