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Pen Underwriting Announces New £100 Million Capacity Deal

Pen Underwriting has reinforced its commitment to the UK solicitors’ professional indemnity (PI) sector by introducing a new multi-year capacity agreement. This agreement, supported by strong security ratings and established capacity partners, enables Pen to underwrite over £100 million in the next three years.

With a track record dating back to September 2000, Pen’s dedication to brokers and law firm clients extends beyond 25 years into 2026. The additional capacity allows Pen to continue offering primary coverage of up to £3 million across a diverse range of clients, including sole practitioners and large firms.

Pen’s extensive underwriting covers a wide array of firms, from high street practices handling various legal areas to specialized firms focusing on personal injury, criminal law, family law, and intellectual property.

Benefiting from in-house solicitors’ PI claims experts and experienced trading underwriters, Pen has maintained consistent underwriting performance even amid market fluctuations.

Paul Crilly, Head of Solicitors’ PI at Pen Underwriting, noted that the stabilization of the UK market has prompted brokers to emphasize service quality, quick proposal turnaround, and access to complementary covers.

He highlighted the Law Society’s research indicating that most law firms lack cyber cover, leaving them exposed to growing risks. Crilly stressed the importance of tailored cyber insurance to address this gap in coverage.

In addition to these developments, Pen’s underwriting business has recently restructured its divisions as part of its goal to achieve a billion-pound gross written premium by 2025.

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