Arrow Risk Management (Arrow) has launched an international professional indemnity (PI) practice, appointing Nick Cox as class underwriter to lead the new operation.
The practice will sit within Arrow’s broader financial and professional lines portfolio and is aimed at building a diversified PI book across UK and international markets. It will target sectors including design and construction, intermediaries, surveyors, architects, engineers and solicitors, underwritten within a clearly defined risk appetite.
Mark Harrington, Arrow’s chief underwriting officer, described Cox as “an outstanding addition to the Arrow team” and praised his “strong track record in developing successful PI portfolios”.
Cox brings more than 35 years’ experience in the London PI market. He joins Arrow from WRB Underwriting, where he served as class underwriter after joining the business in 2005. His previous roles include underwriting positions at CNA Re and Chubb.
In addition, Cox has been actively involved in market initiatives through his work with the International Underwriting Association’s Professional Indemnity Forum. That engagement is expected to support Arrow’s broker relationships and wider stakeholder engagement within the specialist PI space.
The launch comes amid changing market conditions for UK law firm PI, with Howden describing the most recent October renewal season as softer and marked by a record number of participating insurers.
Heightened competition and increased excess layer capacity have allowed many firms to secure combined limits of indemnity of up to £10m, alongside reductions in excess layer premiums. Despite these improvements, PI insurance continues to represent a significant cost for professional practices.
The new international PI practice builds on Arrow’s earlier expansion into financial and professional lines, which saw the MGA recruit senior underwriting talent to establish a balanced, long-term portfolio. That strategy created a platform across financial institutions, management liability and related classes, with PI now added as a complementary extension of the portfolio.
