This practice note outlines regulatory requirements when obtaining PII and explains the renewal process. It also contains specific advice for in-house solicitors, small firms and those experiencing difficulties obtaining insurance.
This information is designed to assist solicitors to better understand the PII market to help make this important business purchase.
The financial security of your insurer is important. This advice is designed to raise solicitors' awareness of the importance of considering whether their insurer will be able to meet claims under their PII policy. More help is available in the right hand column of this page.
Solicitors' professional indemnity insurance (PII) is one of the top three overheads for most law firms. We've put together this guide with some tips on how to prepare for your renewal to give you the confidence that you have got the best terms for your business.
Robert Bourns considers the Competition and Markets Authority report on competition in the legal services market, developments on the SRA handbook and Solicitors Qualifying Examination, and potential changes to professional indemnity insurance.
Andrew Kidd explains why it is essential that the legal profession adapts to the way clients wish to consume legal services.
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Questions or concerns about professional indemnity insurance? Phone our Practice Advice Service on 020 7320 5675, open weekdays from 09:00 to 17:00.
Chancery Pii offers a dedicated service for 1 to 4 partner firms. Take a few minutes to complete our online form and get an indicative quote within 24 hours.
More help for firms concerned about the financial security of their insurer.
How much do you know about the PII market? See how your firm’s experience measures up with the market trends.
Our Pii initiative aims to create a stable and competitive insurance market to ensure affordable and accessible insurance for the entire profession.