Wednesday 14 July 2021 - Thought Leadership

Our PI Risk Appetite Explained


With the Professional Indemnity (PI) market still experiencing a volatile period across the majority of trades and occupations, the market has seen increased rates, reduced appetite, and, in some cases, capacity has exited the market completely. Together, these factors have made it incredibly difficult for brokers to secure the cover, reassurance, and security that they and their clients need; fortunately, at Tokio Marine HCC, our appetite for PI risks remains firm.

Click here to find out more about our PI appetite. 


Quality over quantity

When it comes to the evolution of our appetite, unlike some insurers, we prize quality over quantity and remain firmly committed to the markets we serve. So now, as some sanity begins to return to the PI market after years of unsustainable ratings, both the range and size of the risks we underwrite is increasing day by day. We knew rates in the market would not cover the risk exposure in the long term; scale could still be achieved, but only at the expense of profitability - and that is something we will never consider. But, now that rates are beginning to sit more in-line with the risks posed, our ability to underwrite more PI cover is growing. Our appetite hasn’t changed, but rather it seems the market has finally caught up with us.

Broad appetite

While we know that Tokio Marine HCC is probably front of mind when it comes to Design and Construct risks, the reality is that our appetite stretches far wider than these sectors. Aside from IFAs, solicitors, and insurance brokers – sectors where we have never had an appetite - we are willing to look at most risks. Our priority has always been securing quality, so whether it is accountants or architects, engineers or estate agents, film production or media and technology, we are willing to consider them.

In fact, our appetite is so broad and varied that there are almost too many to categorise. So much so, we have created a Miscellaneous category that contains over 360 trades.

However, our core appetite can be summarised as follows:

  • Accountants
  • Architects
  • Business and management consultants
  • Design & Construct
  • Engineers
  • Environmental consultants
  • Estate agents
  • Film and TV
  • Technology
  • Media
  • Recruitment consultants
  • Surveyors

To view our PI brochure, please click here.

A ‘five star’ PI insurer

Although we may not be the largest PI underwriter with the biggest book of business, we are happy to be considered the best, with one of the largest underwriting teams in the market – which is entirely intentional. We know brokers treat their clients as individuals, and the size of our team allows us to treat our brokers with the same high level of service.

Once a submission has been made and accepted by our PI team, our approach empowers underwriters to take responsibility for managing the full process – from acceptance of risk to negotiating commercial terms, right through to issuing the policy. This underwriting approach, managed by a single individual from start to finish, has resulted in us being classed as a five star PI insurer by Insurance Business Magazine.

Consistently strong underwriting results for London and the regions

Unlike many PI providers, we don’t believe in taking a ‘London-centric’ approach. Instead, we choose to work with over 1,750 brokers up and down the UK, supporting strong businesses with good risks. Our heartland is the regional broker market which is one of the main reasons we produce such consistently strong underwriting results, year after year.

While the risks we write can be complex, our approach never is. We know that you might not be an expert in this sector, but we are. This is why we provide you with a dedicated point of contact who will take the time to talk you through the risk and our processes, to ensure you and your client are clear on what is and isn’t covered and on our mutual expectations.

You can find out more about our PI products here, or speak to a member of our specialist PI team today.