Solicitors' firms must obtain professional indemnity insurance in accordance with the Solicitors' Indemnity Insurance Rules.
This cover must meet the minimum terms and conditions. It may be provided by:
- a qualifying insurer, or
- via the assigned risks pool
Lexcel Practice Management Standard
Increasingly, indemnity insurers look at the risk management procedures that a practices operates. Lexcel accreditation not only covers the main causes of claims against solicitors, but also includes specific risk management systems and procedures. For more information on Lexcel, risk management and insurance premiums, see Lexcel: minimising risk.