Professional Indemnity – Market Focus October 2025
As part of our ongoing series exploring market conditions and Price Forbes’ specialist offerings across key sectors, this edition turns the spotlight on Professional Indemnity (PI).
We spoke with Glenn Gostling, Managing Director, and Sarah Brailey, Executive Director, to get their insights on the current landscape and what lies ahead.
2025: A soft market with expanding coverage
“It’s quite clear that 2025 has had very soft market conditions in the Professional Indemnity marketplace,” says Glenn Gostling.
Rates have dropped significantly – between 25% and 30% compared to 2024, and underwriters are offering broader coverage than seen in recent years. Glenn highlights key enhancements in available coverage:
- Any One Claim options on Design & Construct policies
- Wider fire safety coverage, including full retroactive cover
Additionally, the influx of new MGAs in the London Market PI space is intensifying competition and driving down prices. Glenn cautions:
“Not engaging with us in the London Markets can expose brokers to their competition in what is a very aggressive marketplace.”
Looking ahead: predictions for 2026
We asked Sarah Brailey for her outlook on the year ahead:
“It’s likely that the market will see further reductions – probably between 15% and 20%, and again, wider coverage being offered for certain trades.”
Sarah anticipates that underwriters will continue to expand their appetite for a broader range of professions and occupations, further driving down premiums. She adds:
“We are looking at our own enhanced, bespoke wordings in numerous sectors to offer the best possible protection for our clients and ensure we take advantage of coverage available.”
Our commitment
At Price Forbes, we remain committed to navigating these evolving market conditions with agility and insight. Our team is actively working to ensure clients benefit from the most competitive terms and comprehensive coverage available.
If you’d like to discuss how these changes could impact your PI programme, please get in touch with our team.
