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.
We have responded to the SRA's consultation on removing the obligation for run-off cover when a firm switches from the SRA to another approved regulator.
We have responded to the Council for Licensed Conveyancers' consultation on new professional indemnity insurance arrangements.
We have responded to the SRA consultation on proposed changes to the minimum terms and conditions of the professional indemnity insurance rules.
The call for evidence closes on Tuesday 30 September. We encourage members to have their say.
Read our response to the SRA's proposal to change who is eligible to claim on the Compensation Fund.
Read our response to the SRA's proposal to make changes to minimum compulsory professional indemnity cover.
The Law Society's response to the SRA consultation on the introduction of a minimum financial strength rating for participating insurers.
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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.