Pen Underwriting has launched a UK mid-market professional indemnity proposition that extends its existing footprint in the SME sector. The managing general agent said capacity for the mid-market offering came from a panel of A-rated insurers.

Pen’s increased appetite will allow it to cater for with larger fee incomes or higher turnovers. It is aimed at professionals including accountants, architects, consulting engineers and design and construct firms.

Sachin Gupta, managing director of UK PI at Pen, said: “Extending our PI risk appetite to include larger firms, which are typically more complex, is another example of how we listen to our broker partners and respond.

“When brokers were calling out for greater choice for surveyors’ and valuers’ PI, we expanded into that specialist market. When cover options became limited for their own profession, we responded and created tailored cover for insurance brokers. Now we are doing the same for mid-market PI risks, where brokers tell us they want more market choice and easier ways to place larger client risks, especially in the regions.”