With the renewal dates for Solicitors’ Professional Indemnity insurance now throughout the year, we have bespoke facilities and ‘A’ rated markets for any Solicitors PI risks originating from England & Wales.
With the number of insurers contracting within the Solicitors PI market place, we strongly recommend you work with a specialist Lloyd’s Broker who has whole of market access to ensure that the same risk is not ‘recycled’ throughout the market place with can make the placement of such risks exceptionally challenging.
All solicitors in England & Wales (commercial and private) have a legal responsibility to ensure they have a minimum level of professional indemnity in place at all times. There cannot be any gap in cover at any time, as this would need to be reported to the SRA, who can take intervention measures – therefore we highly recommend you work with our solicitor clients well in advance to obtain a competitive renewal.
Key Covers of Solicitors’ Professional Indemnity Insurance:
This responsibility brings a risk of being held to account for a client’s financial loss, should incorrect advice be given. Mistakes happen and allegations of professional negligence can be difficult and expensive to defend. Solicitors professional indemnity insurance will protect the business if it is found liable for any compensation payable to the claimant and any legal costs incurred defending the claim.