PI programme · Growing firms
How to structure a PI programme for a growing firm
Reviewed by Apex Insurance Brokers (FCA FRN 724952) · Published 15 July 2026
As firms grow, single-layer PI often becomes inadequate. Structured programmes with primary, excess and specialty layers deliver better cover at better economics.
The evolution of PI needs
- Small firm (<£1m turnover): single primary layer, £1-£3m.
- Medium firm (£1-5m): primary £3-5m plus consideration for excess.
- Larger firm (£5m+): layered programme with primary + excess-of-loss.
- Multi-territory firm: territorial extensions or separate placements.
- Complex specialist firm: bespoke placement with sector-specific extensions.
Building the primary layer
- Regulatory minimum as the floor.
- Cover level reflecting largest single-claim exposure.
- Aggregate limit sized to absorb multiple claims per year.
- Retroactive date extending to earliest active advice.
- Wording tuned to sector and work profile.
Adding excess-of-loss
- Second layer attaching where primary is exhausted.
- Common at £5m+ for professional firms.
- Broader aggregate treatment often possible at excess level.
- Different insurer usually — competitive market.
- Coordinated with primary to avoid gaps.
Specialty and additional cover
- Cyber cover: usually separate policy, not on PI programme.
- Directors' & Officers cover: separate from PI.
- Employment practices liability: separate.
- Investment or transactional cover for specific work: extension or separate.
- Product liability where deliverables are physical or digital.
- Cross-border exposures via separate territorial placements.
Programme management as the firm grows
- Annual review of programme adequacy.
- Broker involvement in strategic placement decisions.
- Named-broker across the programme for consistency.
- Documentation of programme structure and rationale.
- Consumer Duty (PRIN 2A) documentation where relevant.
Frequently asked
When do we need excess-of-loss?
Usually at £5m aggregate and above — sooner if concentrated risk demands it.
Do we need separate cyber cover?
Yes — PI rarely covers ransomware, forensics, business interruption or ICO defence adequately.
Can we use one insurer across the programme?
Sometimes — but competitive tension often delivered by using different insurers at primary and excess.
What about D&O?
D&O is a separate cover for corporate directors. PI and D&O are complementary.
How does international exposure fit?
Territorial extension for occasional overseas work; layered placements for regular multi-territory work.
Should we self-insure any of this?
For firms with strong balance sheets, sometimes. But regulatory minima and claim-exposure typically outweigh self-insurance economics.
Related
- Sizing your PI limit decision framework
- Aggregate limit vs each-and-every claim PI
- Practice M&A / acquisition PI
Apex Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Firm reference number 724952. Registered in England and Wales, company number 07014570.
Offices: QCS, 53 Queen Charlotte Street, Bristol BS1 4HQ · Unit 24, Basepoint Centre, Jubilee Close, Weymouth DT4 7BS
A director will look at it personally
If your firm buys a substantial limit — layered, topped-up or approaching renewal — send the schedule or just call. A second opinion costs nothing and commits you to nothing.
Get a director’s second opinion → 0117 325 0027