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Aviva pulls out of PI market

Paystream News

Daniel Haslam

Wednesday 3rd Apr, 2013

Aviva have announced that they will stop writing Professional Indemnity (PI) business for small to medium sized businesses from April 1st. This could mean that any of our contractors who have PI insurance with Aviva will be unable to renew their policy from 1st April onwards.

Specialty risk Managing Director David Hall said; 'The reason for this move is simple: our PI book has been unprofitable, and although we have tried corrective action, the current market conditions are against us.'

David went on to add; 'Refocusing our PI strategy will allow us to reallocate capital more appropriately, as well as supporting our wider strategy of writing more lines of business with our clients.'

If you are affected by this move please feel free to contact PayStream's New Business Team on 0800 197 6516 (press option 1) to discuss your options in more detail.
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