Professional indemnity premiums not expected to rise in 2010
Survey show most feel insurance costs will remain roughly the same as last year
Few accountants expect their professional indemnity insurance rates to
increase in 2010, according to a new survey.
Research from Ntegrity Professional Indemnity found that just 18% of those
asked though premiums for accountants would rise by up to 10% this year, the
same amount that expect a drop in 2010. Nearly two thirds, however, anticipate
premiums remaining in line with 2009 levels.
“This picture will be pleasing to accountants but it is important to remember
that while we have a stable rating horizon, the premium charged also depends on
the fee income of the firm and its own unique characteristics,” said Ntegrity’s
managing director Gary Horswell.