Comparing PI brokers · UK

How to compare UK PI insurance brokers — twelve tests

Reviewed by Matthew Bartlett, Director, Apex Insurance Brokers Limited (FCA FRN 724952) · Published 14 July 2026

Not all PI brokers are the same. Market access, wholesale reach, claims-handling depth, and Consumer Duty transparency vary widely. This page sets out the twelve tests to apply when comparing UK PI brokers.

The twelve comparison tests

1. Direct market access. How many PI insurers do they place with directly?
2. Wholesale Lloyd's access. Do they have named wholesale relationships?
3. Sector depth. How many firms in your sector do they currently place?
4. Named-broker model. Same person from first quote to renewal, or rotating?
5. Claim-handling protocol. Who handles a notification — and at what level?
6. FCA authorisation status. Directly authorised or AR?
7. Commission disclosure. Willing to disclose in writing?
8. Consumer Duty documentation. Fair-value assessment process in place?
9. Renewal timing discipline. Start how many weeks before renewal?
10. Difficult-risk experience. Placed adverse-history cases in your sector?
11. Wording review capability. Do they read the wording themselves?
12. Sector-specific regulatory expertise. Deep knowledge of your regulator's framework?

Red flags in broker comparison

Vague market-access answers.
Refusal or reluctance to disclose commission.
Call-centre or rotating account-manager model.
Promises of specific outcomes before market has responded.
Superlatives without substantiation.
Missing FCA-authorisation status.

Getting the comparison right

Speak to 2-3 brokers before appointing.
Apply the twelve tests to each.
Weight sector depth and market access heavily — these matter most.
Confirm named-broker model and claim-handling depth.
Get commission disclosure in writing.
Choose the broker whose depth matches your firm's risk profile.

Frequently asked

What's the most important thing when comparing PI brokers?

Market access. A specialist broker with genuine wholesale market access has materially more options than a generalist. Speak to at least two brokers before appointing.

Should I always use the biggest broker?

No. Boutique specialists often outperform larger brokers on complex professional risk. Size matters less than specialism and market access.

How do I know if a broker has strong wholesale access?

Ask specifically: who are your named wholesale partners at Lloyd's? What percentage of your placements go via wholesale? Specific answers signal depth; vague answers signal weakness.

What does 'named-broker model' mean?

The same broker serves you from first quote through to renewal, ongoing service and any claim. Contrast with rotating account-manager models where continuity breaks.

Is a directly authorised broker better than an appointed representative?

Not automatically. DA brokers own Consumer Duty outcomes directly; AR brokers operate under principal firm's framework. Both models work; the distinction matters at claim time.

How can I test a broker's sector expertise?

Ask specific regulatory questions: SRA MTC clause 5, BSA 2022 s.135 implications, ICAEW Bye-law 61 mechanics. Specialists answer directly; generalists don't.

Do brokers vary in claims-handling ability?

Materially. Specialist brokers with director-level claim handling typically outperform call-centre models on complex claims. Ask specifically who handles a notification.

Should I ask for references from a broker?

Legitimate to ask, though many brokers won't share client names for confidentiality. Ask about their approach to a scenario like yours and their track record on difficult placements.

What might your PI premium look like?

A guideline range built from the premiums insurers have actually quoted on risks we handle. Pick your profession and enter a few details — it updates instantly.

Profession

Annual fee income — gross, last 12 months

Limit of indemnity

Any claims history?

Any higher-risk work? — e.g. large or overseas projects

Guideline range — this is not a quote

Choose your profession and enter your fee income to see a guideline range.

Get an actual quote →

How these figures are produced

This guide is built from Apex's own market data: the premiums insurers have actually quoted and charged on professional indemnity risks we have handled. Each night that data is aggregated into anonymised rate bands by profession, fee income and limit of indemnity. No client information is published — a band only appears where it contains at least five separate records, and unusually high premiums are excluded so a single atypical risk cannot distort the guide.

The range shown spans the typical spread of recent market outcomes for similar risks. Individual quotes can fall outside it in either direction. Figures exclude insurance premium tax at 12%.

This calculator is not a quote and is not an offer of insurance or advice. Your actual premium depends on full underwriting of your business, including your activities, claims record and insurer appetite at the time.