CASE STUDY: Structural and engineering company cover

Stewart Morris runs a bespoke structural and engineering consulting company in Leicestershire. He has found that obtaining professional indemnity (PI) insurance for his business has become more challenging and expensive in recent years due to the PI market conditions and the impact of the Grenfell tower fire. Despite SMP having no previous PI claims, the premiums year on year were increasing and finding cover to remain competitive in the market place was becoming more difficult. Stewart contacted BIBA’s Find Insurance Service and was put in contact with specialist PI broker LBH who were able to help. Stewart commented: “Many providers just weren’t interested in insuring us, but LBH were able to quickly source an Insurer and were very reasonable with their commission. I’m really pleased with the way they have helped us, as without the PI cover we couldn’t trade. The PI market is really difficult and highlights the need for a more level playing field on which SME professional firms can compete and be awarded work.”

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