London PI market exhibits strong appetite, high confidence

A survey by U.K.-based law firm Clyde & Co. LLP found that the London professional indemnity market has strong appetite despite a recession as well as regulatory and cyber challenges looming over the industry, Reinsurance News reported. While 95% of insurers expect to record more claims in the next two years, nearly all the surveyed insurers and buyers expect pricing hikes this year and further rate hardening in the medium term.