Solicitors are reporting a less turbulent renewal round for professional indemnity insurance this year as the deadline approaches, although prices have risen steeply for some mid-sized firms.

Hilary Underwood, chairwoman of the Sole Practitioners Group, said there have yet to be any complaints from members struggling to secure insurance – in marked contrast to the previous two years.

‘Last year our PII committee was overrun and there were lots of people struggling, particularly those in conveyancing,’ she said.

‘But it’s been much quieter in terms of enquiries from panicking firms. We’ve yet to see the stressful calls of past years.’

Martin Ellis, a director of broker Prime Professions, agreed that 2011 has been less difficult for most firms, with new entrants to the market offering more choice.

He said: ‘In terms of price, rates for the large firms have stayed the same, but mid-sized firms with certain insurers have seen their premiums as much as doubled, although they were probably too low in the first place.’

There are lingering concerns over some firms that have been fighting to get out of the assigned risks pool and have accepted premiums from new and untested entrants to the market.

Elliott Vigar, head of regulation at the Law Society, said: ‘It would appear this renewal season is less frantic and perhaps less painful than last year.

‘There appears to be relatively aggressive new writing at a very competitive price on risk that other insurers would not be inclined to do.

‘They have provided a considerable lifeline although there is some concern about their durability in the market. We don’t seek to regulate or benchmark insurers, but they are FSA-approved so they can write business.’