Changing PI insurance broker: PR consultancies

Why PR consultancies look for a new broker

PR and communications work tends to end up in a broker's miscellaneous book, and the service can feel like it. Renewal terms arrive late, questions about a client contract's insurance clause go unanswered, and nobody at the brokerage seems to understand the difference between media relations, crisis work and paid campaign delivery. If your broker cannot describe your business, they cannot present it well to insurers.

Growth is the other trigger. A consultancy that has moved from press releases into crisis communications, reputation management for regulated clients or international campaigns has a different risk profile from the one that first bought the policy, and it may have outgrown both the wording and the broker who arranged it.

Remember that changing broker and changing insurer are separate decisions. A new broker may keep you with the same insurer on better-managed terms, or recommend a move. What you are really buying is the advice and the service around the policy.

Claims-made cover and why continuity matters

PI is written on a claims-made basis: the policy in force when a claim arrives is the one that responds, not the policy that was live when the work was done. A press release drafted two years ago can produce a complaint today, and it is today's policy that deals with it.

That makes the retroactive date the single most important item in any broker move. Work done before that date is not covered. An established consultancy's retroactive date should sit at the start of its unbroken cover history, and a new policy arranged by a new broker must carry the same date. Any gap in cover, even days, can give an insurer reason to reset it.

So the two non-negotiables when switching are: no gap between policies, and no change to the retroactive date. Everything else is negotiable; these are not.

The extensions worth checking when you re-market

A switch is the natural time to read the wording properly, because PI wordings for communications businesses vary more than most buyers expect. Defamation is the obvious one: libel and slander arising from your professional work should be expressly covered, not left to interpretation, since a claim over a press release or a social post is one of the most recognisable exposures in this sector.

Intellectual property is the second: infringement of copyright, trademark or image rights in campaign materials, straplines and creative work. Check whether the policy covers unintentional infringement and how it treats work produced by freelancers and subcontractors on your behalf.

Beyond those, look at how the wording handles work you place or approve for clients, breach of confidentiality, and where professional liability ends and cyber cover begins for things like compromised campaign data. A good broker will map these to what you actually do rather than assuming a generic wording fits.

Renewal moves, mid-term moves, and timing

Renewal is the clean moment to switch: the old policy completes its term and the new arrangement starts without argument over cancellation or return premium. If the relationship has broken down mid-year, you can usually appoint a new broker to service the existing policy by letter of appointment, then re-market properly at renewal.

Start early. Four to six weeks before renewal gives a new broker time to understand the consultancy, ask about the client mix and contract terms, and approach insurers in an orderly fashion. A rushed re-market produces one quote and no comparison, which defeats the purpose.

What the new broker will ask for

Expect a proposal form or an updated presentation covering what the consultancy does and its approximate fee split: media relations, crisis and issues work, content and creative, paid campaigns, public affairs. The split matters because the exposures differ, and a fair presentation of the risk is your duty under the Insurance Act 2015.

You will also need your claims and circumstances history, including complaints that were notified but never became claims, plus your current schedule, limit, excess and retroactive date. If client contracts commit you to carry a particular limit or maintain cover for a period after the work ends, show those clauses to the new broker so the recommendation matches the obligations you have already signed.

Frequently asked questions

Will switching broker affect my existing PI cover?

Not if it is handled properly. Appointing a new broker to service the same policy changes nothing about the cover. If the switch involves a new insurer, the new policy must start the moment the old one ends and carry the same retroactive date, so your past work stays covered.

What is a retroactive date and why does it matter when re-marketing?

It is the date before which work is not covered under a claims-made policy. When you move to a new policy, the retroactive date should match your old one. If it is set later, your earlier campaigns and advice become permanently uninsured, whatever cover you held at the time.

Should a PR consultancy have defamation cover in its PI policy?

Defamation arising from professional work is one of the core exposures for a communications business, and you should expect it to be expressly addressed in the wording rather than assumed. A re-marketing exercise is the natural moment to confirm exactly how it is covered.

What does a new broker need to quote for a PR consultancy?

A clear description of the work and fee split, your claims and circumstances history, the current schedule with limit, excess and retroactive date, and any client contract clauses that set insurance requirements. The more accurate the picture, the more reliable the terms.

Can I move broker mid-term without cancelling my policy?

Yes. A letter of appointment transfers servicing of the existing policy to the new broker while the insurer, wording and retroactive date stay unchanged. Cancelling mid-term to start a new policy elsewhere is rarely worth it and raises avoidable continuity questions.

Apex Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority (FRN 724952). This page is general information, not advice on a specific policy.