The following Practice Compliance guidance note Produced in partnership with Lockton Companies insurance brokers provides comprehensive and up to date legal information covering:
The SRA’s Minimum Terms and Conditions (MTC) indemnify you against civil liability to the extent that it arises from private legal practice.
The MTC offer the widest form of cover of any professional compulsory mandated terms and are subject to very few exclusions, but there are some.
This Practice Note considers each of the exclusions to understand its intent and whether the subject matter excluded can be more appropriately insured any other way.
The MTC are on a 'claims made basis'. This means that cover will operate only for claims and circumstances made during the period of insurance. Any claim or circumstance made during a previous period is excluded.
Liability for death or bodily injury is excluded as these liabilities are insurable under either a separate public liability and/or employer’s liability policy.
However, cover is included for psychological injury or emotional distress if arising from a breach of duty in the course of private legal practice.
**excludes LexisPSL Practice Compliance, Practice Management and Risk and Compliance. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
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