A welcome change to PII renewal for CLC firms

Historically, the Professional Indemnity Insurance (PII) renewal season has been somewhat unpredictable, often resulting in a worrying and sometimes fraught period for CLC firms navigating their way through.

Thankfully, 2025 signalled a welcome change, with signs of market stabilisation, renewed competition, and a more favourable environment.

A market turning point

The 1st of July and the weeks leading up to it are often met with apprehension by CLC-regulated firms. For many, the PII renewal season has historically been fraught with uncertainty, limited insurer appetite, and rising premiums. However, 2025 marked a notable shift,  one that many in the market will welcome. 

Improved insurer appetite

After several years of hard market conditions, this year saw a stabilisation in rates and a return of competition. Whilst the exit of Arch in 2024 left a gap in the market, new entrants such as Probitas (a Lloyd’s Syndicate wholly owned by Aviva) and revitalised appetite from Collegiate, helped to restore balance.  

Premium trends and rate movement

Data from our facilities shows a drop in average premium rates compared to 2024. The average rate on gross written premium fell to more sustainable levels in 2025. This is particularly encouraging for smaller firms, many of whom had struggled to secure affordable terms in previous years. 

Underwriting focus: risk differentiation

Insurers and brokers alike placed greater emphasis this year on firms’ ability to demonstrate robust risk management. Those who could articulate their controls, particularly around post-completion processes, cyber resilience, and claims history,  were better positioned to negotiate favourable terms. 

Broker insights: Howden’s role

Howden’s approach this year focused on early engagement, market benchmarking, and tailored advice. Our expanded panel and dedicated CLC team enabled us to offer firms more choice and strategic guidance. We encouraged clients to challenge their existing arrangements and supported them in presenting their risk profile effectively. 

Looking ahead

While the 2025 renewal season brought much-needed relief, firms should not become complacent. The market remains sensitive to claims trends, regulatory developments, and economic pressures.

Early preparation, transparent communication, and continuous improvement in risk management will remain key to securing the best outcome in future renewals.