Traditionally, claims against solicitors and other professionals increase during times of recession. Although the present recession has not seen the large increase...
Background It is good practice to assess the risk profile of different types of work. Key risks in relation to probate work include: • not proving the...
Poor quality instructions, delay, failure to properly assess capacity, drafting errors and confusion over the scope of the retainer are all strong contributors to...
This factsheet is based on Travelers’ claims data over the six years to September 2014. It provides an overview of: • the relative risks involved in the different areas...
This Practice Note explains how you can deal with your professional indemnity insurance (PII) brokers and underwriters, including: • questions to ask your broker •...
The Insurance Act 2015 (IA 2015) came into force on 12 August 2016, and has brought about a clarification of existing law. The changes relate particularly to: • duty of...
Failure to communicate effectively with a client is perhaps the most common cause of complaints and claims. Whether or not the claim is justified, it is vital to ensure...
You must have and at all times maintain professional indemnity insurance (PII). PII covers civil claims against your firm, most commonly for professional...
In contrast with previous years, the 2014 renewal was relatively benign. The majority of firms renewed their PII with their existing insurers and indeed 90% of Lockton...
Securing professional indemnity insurance (PII) cover is not always easy, even for an established firm. You could find that your insurer is not willing to...
Completing a Professional Indemnity Insurance (PII) proposal form is a time consuming task, and involves the collation of a significant body of information about your...
Practically, professional indemnity insurance (PII) is a means of passing on (rather than terminating or reducing) risk. This Practice Note explains what PII should...
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...
You are under a continuing duty to advise your insurer of material facts and relevant changes to your practice. There are also some matters that are good practice to...
The legal profession is experiencing a period of fundamental change. Changes to the regulatory regime are resulting in new breeds of law firms with different structures....