Solicitors Professional Indemnity Insurance
What is Solicitors Professional Indemnity Insurance?
Like any firm providing professional services and/or advice, Solicitors carry Professional Indemnity Insurance. The Solicitors Regulation Authority require that all Solicitors firms/practices in England and Wales carry a Professional Indemnity Policy that complies with the Solicitors Minimum Terms and Conditions.
The Minimum Terms and Conditions 2011 came into effect on 1 October 2011. They are published as Appendix 1 of the SRA Indemnity Insurance Rules 2011, in the SRA Handbook.
Aston Scott specialises in the placing of Solicitors Professional Indemnity Insurance and our Cambridge office is dedicated to this particular area of business, and to servicing the other insurance needs of Solicitors Firms', under the supervision of a very experienced Solicitors Professional Indemnity Broker.
We can provide Professional Indemnity Insurance for the entire range of firms from sole practitioners through to the very largest firms, from long established firms to new start-up firms. Our expertise, experience of solicitors' Professional Indemnity Insurance and market knowledge, means we can offer our clients competitive premiums backed by excellent service from a team of dedicated professionals.
Firms are required to purchase cover with an indemnity limit of at least £2,000,000 (£3,000,000 for an LLP or Limited Company). Until 2013, all policies were subject to a profession-wide common renewal date of 1st October. However, this is no longer a requirement and insurers will now consider offering alternative renewal dates.
For new venture/start ups, cover can be incepted at any time during the policy year. We are one of the few Brokers who specialise in, and actively seek to work with, new start-up Solicitor firms. We are very experienced in helping new start-up firms and will offer advice and support in preparing a business plan and supporting documentation, in order to ensure that a submission is provided to Underwriters that is likely to result in an offer of insurance.
Who is it for?
Solicitors in Private Practice and qualified Solicitors seeking to set up their own firm/private practice.
For more information, please call Tony Payne;
e-mail: firstname.lastname@example.org or telephone 01420 82501