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.
The Law Society is submitting its own detailed response, but here is your chance to have a say on the SRA's consultation on reforming professional indemnity insurance (PII).
The Insurance Act 2015 comes into force on 12 August and includes changes to PII.
The unrated insurer, Enterprise Insurance, has been declared insolvent and is no longer writing new insurance contracts.
The Metropolitan Police are distributing posters to businesses with information on how to avoid and report fraud attempts.
The Law Society has today published its response to the SRA's call for evidence on client protections.
Read our reaction and advice on the SRA's decision to implement two of its proposals for new minimum levels of compulsory PII cover.
The SRA has announced a wide-ranging programme of reform and the Law Society is urging its members to participate in the consultation. There is only a limited time to act, so please respond soon.
A quarter of all law firms making professional indemnity insurance (PII) applications do not know whether their insurance broker has full access to all insurers prepared to insure their firm.
The Law Society is warning solicitors to check the financial strength of an insurer before purchasing their next professional indemnity insurance (PII) policy, to find out whether the company will be able to meet insurance claims.
The Law Society is lobbying the Solicitors Regulation Authority (SRA) to extend a scheme that provides solicitors' professional indemnity insurance (PII) run-off cover.
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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.