The Rise of Errors and Omission Claims Against Brokers and why PI premiums are soaring

Broker Professional Indemnity premiums are in many cases doubling which reflect the fact that Pi underwriters believe the possibility of claims against brokers has never been higher. This presentation will explore why the number of errors and omission claims against brokers are on the increase and how these can potentially be mitigated.

Various new pieces of legislation including the brokers' duty under the Insurance Act 2015, GDPR and the Insurance Distribution Directive are making brokers more vulnerable than ever, which coupled with increased litigation in society, increased client expectations and ever higher regulatory demands mean that brokers cannot continue to do what they have always done, far more proactivity is required.

Alan Chandler who is widely regarded as one of the leading trainers and presenters within the UK will provide a number of examples of how the tide of litigation is turning against insurance brokers and what they need to do to mitigate their E&O risks. He has taken thousands of people through to ACII qualification including many national prize winners, as well as delivering a vast array of technical presentations on Commercial and Personal lines insurances.

Alan's webinars have been viewed across Europe, Asia, Africa, Australia, North America and South America and his audience numbers last year were well over 100,000. He has devised and delivered training programmes for major insurers and brokers, including Zurich, Allianz, Aviva, Hiscox, NIG, Gallagher, Aon, Towergate, GRP, Aston Lark, James Hallam and Marsh.

Alan has undertaken operational management roles in three major global companies running underwriting, broking and claims functions. In order to fulfil a long-term ambition, he set up his own training company, something that he had always longed to do as he is passionate about training. A number of Alan’s pieces of work have been published internationally and he is regularly called upon to provide expert legal guidance on insurance matters.