Many companies, our included, require £5 million as a starter.

I have also recently left the employment of an LA & asked for similar advice before I set myself up as a sole trader.

I also spoke to an experienced consultant & eventually bought PI & PL up to £1 million - so far this has not caused any issues.

However, some organisations do stipulate higher premiums & I have an arrangement with my provider that should I need to raise the amounts for individual contracts, then they can accommodate me.

Last but not least, your premiums will depend on what advice you are offering! Most basic premiums exclude construction or asbestos activities & if you want them included, then watch the prices rise!

Good luck with your venture - Zyggy