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The December 2019 issue of Pro-Demnity Insurance Company’s newsletter, The Straight Line includes Bruce Palmer’s summary of his first six months as President & CEO, and an update on the Grenfell Tower fire.
Pro-Dem also has issued an important notice to all policyholders regarding the Claims Expense Deductible (CED). Upon review of claims data, it is apparent that a small group of practices (less than one per cent) has attracted a significant number of claims. Since claims expenses represent the largest component of Pro-Demnity claims costs, the group of frequently litigated practices received significantly more in claims payments than they had paid in cumulative premiums.
The purpose of the CED application is fairness to other policyholders and to help those small group of practices with high claims frequency to take action to address that issue. The notice linked above explains more about the CED and its application thereof.
Both The Straight Line and the CED notice are also posted on the Pro-Demnity website and mailed to holders of Certificates of Practice.