The last five years has seen accountants deal with the ramifications of a ‘hard market’ across the professional indemnity space, gulping at exponentially rising premiums and high excesses as well as the uncertainty of when, if ever, the market will turn back in favour of the accountant.

Then, towards the end of 2023 and the beginning of this year, it had looked as though the concerned accountant was to get their wish.

Several managing general agents had returned to the market, with the objective of providing competitive indemnity insurance quotations.