Broker due diligence

Questions to ask your UK PI broker

Reviewed by Matthew Bartlett, Director, Apex Insurance Brokers Limited (FCA FRN 724952) · Published 15 July 2026

Not every PI broker delivers the same. Here are the questions to ask before appointing — or reviewing — a broker for your firm's PI programme.

Market access and specialism

  1. Which insurers do you place directly with in my sector?
  2. What percentage of your placements go via wholesale (Lloyd's)?
  3. How many firms in my sector do you currently service?
  4. Who is the named wholesale partner for my sector risk?
  5. How many years has your team been placing this sector's PI?

Service model

  1. Who will be my named broker — and will that be the same person from quote to bind to renewal?
  2. Who handles a claim — and at what level?
  3. How do you handle mid-term adjustments?
  4. What's your renewal timing discipline — how many weeks in advance?
  5. How do you communicate insurer decisions in writing?

Transparency and Consumer Duty

  1. What commission or fee are you paid on this placement?
  2. How do you meet your Consumer Duty obligations (PRIN 2A)?
  3. What is your fair value assessment process?
  4. How do you document advised vs non-advised sales?
  5. Are you directly authorised or an Appointed Representative?

Technical depth

  1. How would you handle an aggregation-clause dispute?
  2. What is your approach to sector-specific issues (BSA 2022 for architects, SRA MTC for solicitors)?
  3. How do you read the wording — do you or a wording expert?
  4. How would you approach a difficult renewal with a claims history?
  5. How do you decide when to widen the market?

Frequently asked

Should the broker be sector-specialist?
For regulated professions, yes — sector specialism materially outperforms generalism on PI placement.
Is a named-broker model always better?
For a professional practice, yes. Rotating account-manager models fail at claim time.
What's a fair commission to pay?
PI commission is typically 15-27.5% of gross premium. Fair value depends on the depth of service delivered.
Do brokers always disclose commission?
Commercial clients are entitled to ask; specialist brokers usually disclose voluntarily. Consumer clients are covered by different rules.
What about broker rating agencies?
There are no independent broker rating agencies for PI. Track record and case study evidence matter more.
How often should I review my broker?
Every 3-5 years is standard; every renewal is a soft review opportunity.

Related

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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.