Potentially, yes.

An open Professional Indemnity claim does not automatically prevent Webber Insurance from assisting with your current or future insurance arrangements.

However, the claim can affect insurer appetite, pricing and policy terms.

What information may be required? #

Insurers may ask for:

• Nature of the allegation
• Amount claimed
• Current status
• Legal advice received
• Whether liability has been admitted
• Amount reserved by the existing insurer
• Expected resolution
• Steps taken to prevent a similar issue recurring

Can I change insurer while a claim is open? #

Potentially.

The existing claim generally remains with the insurer whose policy responds to it, subject to that policy.

A new insurer is considering future claims and circumstances, so it will usually want clear disclosure of the existing matter.

Depending on the circumstances, a new insurer may:

• Offer normal terms
• Increase the premium
• Apply a higher excess
• Exclude the known claim or related circumstances
• Restrict particular activities
• Decline the risk

Where Professional Indemnity Insurance is written on a claims-made basis, changing insurer should be handled carefully to preserve appropriate continuity and retroactive cover.

Contact our team if you have an open Professional Indemnity claim and need assistance with renewal or alternative insurance options.