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.
Solicitor firms should be able to choose the most appropriate regulator for their business, but client protection must not be compromised in the process.
This calculator is designed to assist solicitors to work out an indicative figure that should be saved each year as part of their retirement planning to prepare for the likely cost of run-off cover under their minimum terms and conditions (MTC) policy.
Quinn Direct Insurance Ltd's UK portfolio has now been acquired by Catalina Insurance Ireland Limited, and Lawshield UK Limited are managing claims for them.
We have responded to the Council for Licensed Conveyancers' consultation on new professional indemnity insurance arrangements.
For the second year running professional indemnity insurance (PII) renewal went smoothly for the vast majority of firms, our 2015-16 PII survey has found.
We have responded to the SRA consultation on proposed changes to the minimum terms and conditions of the professional indemnity insurance rules.
The Law Society has again called for explicit statutory protection for legal professional privilege in its evidence to the Draft Investigatory Powers Bill Joint Committee.
The Metropolitan Police are distributing posters to businesses with information on how to avoid and report fraud attempts.
Our FAQs have been compiled to help solicitors to better understand the complex area of professional indemnity insurance.
Feedback from you will help us improve out website. If you would like us to contact you please leave your contact details.
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.