Professional Liabilities Back to Basics in Challenging Times

surprises in the form of undisclosed material facts or matters which should have been notified in previous policy periods but weren’t. The good news is that your policy obligations are the same as they always have been and there is nothing more onerous in Griffiths & Armour’s policy conditions today than has previously existed. Our advice therefore remains the same as ever, but following that advice is more important at a time when the market is continuing to evolve and a change of provider from one year to the next is a very realistic possibility. In our Information Alert issued immediately after the last renewal of our Schemes in November 2020, whilst we were able to reassure all of our clients that the Scheme facilities had been safely renewed, we highlighted that it had been “…the most difficult negotiation we have had for a generation”. As we move into the final phases of this year’s renewal, the indications are that some insurers’ respective risk appetites may be diverging, making change in some form highly probable. With that in mind, if ever you find yourself debating whether or not to notify your insurers of a given situation, the likelihood is that a telephone call to your usual contact at Griffiths & Armour will be extremely worthwhile – as always, we are here to help. If there is any aspect of this update that you would like to discuss , please get in touch.