Questions to ask your UK PI broker
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
- Which insurers do you place directly with in my sector?
- What percentage of your placements go via wholesale (Lloyd's)?
- How many firms in my sector do you currently service?
- Who is the named wholesale partner for my sector risk?
- How many years has your team been placing this sector's PI?
Service model
- Who will be my named broker — and will that be the same person from quote to bind to renewal?
- Who handles a claim — and at what level?
- How do you handle mid-term adjustments?
- What's your renewal timing discipline — how many weeks in advance?
- How do you communicate insurer decisions in writing?
Transparency and Consumer Duty
- What commission or fee are you paid on this placement?
- How do you meet your Consumer Duty obligations (PRIN 2A)?
- What is your fair value assessment process?
- How do you document advised vs non-advised sales?
- Are you directly authorised or an Appointed Representative?
Technical depth
- How would you handle an aggregation-clause dispute?
- What is your approach to sector-specific issues (BSA 2022 for architects, SRA MTC for solicitors)?
- How do you read the wording — do you or a wording expert?
- How would you approach a difficult renewal with a claims history?
- How do you decide when to widen the market?
Frequently asked
Should the broker be sector-specialist?
Is a named-broker model always better?
What's a fair commission to pay?
Do brokers always disclose commission?
What about broker rating agencies?
How often should I review my broker?
Related
- How to compare UK PI brokers — twelve tests
- Directly authorised vs AR broker
- PI broker fees and commissions explained
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.
Choose your profession and enter your fee income to see a guideline range.
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.