Aqueous Underwriting has announced that it has secured A+ rated capacity for solicitors on an excess layer basis.
The new product comes with generous limits, extending up to £5 million. The versatility of this product is also evident in its ability to underwrite layers starting from £2 million for partnerships and £3 million for limited liability partnerships.
Solicitors excess layer is available for two or more UK partner firms, provided their fee income doesn't surpass £5 million. Brokers also stand to gain from the added stability and security brought by the A+ rated capacity. Simultaneously, the product equips brokers to adeptly address the distinctive requirements of their solicitor clients.
The product's offering also includes total conveyancing coverage of up to 50%, with a cap of 25% attributed to commercial conveyancing.
The underwriting team for solicitors comprises William Hall (who joined the MGA last year), Stuart Barker, and Terry Shaw, all touting extensive expertise in the realm of professional Indemnity underwriting.
“I am delighted that we have launched Solicitors Excess Layers, it is vital that we listen to our brokers and meet their demands. We will provide a tailored policy wording by our service driven underwriting team. Excess Layers for Solicitors is an under-serviced market, and we are pleased to bring our uniqueness to it,” Aqueous CEO Danny French said.
In 2022, the MGA also made waves as it obtained additional professional indemnity capacity, allowing Aqueous to offer cover for limits up to £10 million on primary or excess layer basis, or a combination of both.
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