Insight
Latest trends in professional indemnity insurance for law firms
Renewing professional indemnity insurance (PII) can be complex, costly and time-consuming. As your professional body, we’re here to help you navigate the PII market and make informed choices about your renewal options.
We commissioned Mustard Research to survey the experiences of 600 law firms and sole practitioners renewing their PII between November 2022 and February 2023.
The findings explore:
- every stage of the PII process, from the average cost a firm is likely to pay to insure its business, to the time it takes for insurers to deal with proposals
- the experiences of those who chose to use the same broker and insurer compared with those who decide to make a switch
- trends in those purchasing top-up cover, cyber insurance and run-off cover
We are grateful to Law Society strategic partner Shire Professional Funding for sponsoring this research.
We know that running a legal business is a rewarding experience, but it can also be challenging. That’s why we’re committed to supporting solicitors and providing them with the tools they need to succeed.
Explore the findings below to:
21 Jul 2023
4 minutes read
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