Does your firm need Solicitors Professional Indemnity Insurance?
There are circa 150,000 practising solicitors in the UK and over 10,000 law firms. Solicitors’ Professional Indemnity Insurance (PII) is mandatory for all practicing law firms in England and Wales and is a requirement of the Solicitors Regulation Authority (SRA).
What does my Solicitors PII cover?
Put simply, Solicitors PII provides cover first and foremost for costs incurred in defending a professional negligence claims made against you arising from legal advise you have provided. Additionally, it will cover your firm for any compensation payable to a claimant if your firm is found liable of professional negligence.
Where allegations of professional negligence arise, the claims can be both time consuming and expensive to defend. Solicitors PII ensures that firm can continue to run smoothly whilst knowing that any defence and claim resolution is being handled by our experts.