Solicitors Insurance
Protect your practice with Solicitors Insurance through Jensten Insurance Brokers.
Business Insurance | Professional Risks Insurance |
Solicitors Insurance
What is Solicitors Insurance?
With the availability of insurers changing from year to year, new insurers coming in and other insurers withdrawing, renewing Professional Indemnity Insurance (PII) has been a pretty turbulent and stressful exercise for the legal profession.
In recent years, following the changes in the economy and insurers suffering extremely poor loss ratios, those insurers that have not withdrawn from the market completely are incredibly selective about the size of firm and types of risk they are prepared to insure. Broking PII for a solicitor’s practice is more involved than simply completing a proposal form and obtaining terms is very much a job for the specialist.
What does
Solicitors Insurance cover?
We can arrange insurance for surveyors that can include:
Office Insurance
Office insurance may include cover for structural faults, damage or loss to office furniture and property, plus public and employer liability.
Professional Indemnity Insurance
Commonly known as PI insurance, offers financial protection should a client sue you if you give poor advice or do something that results in financial or reputational losses.
Public Liability insurance
If a member of the public is injured or their property damaged while on your premises, you can be held liable. Public liability insurance will protect you financially should you be sued for damages.
Trustee Liability Insurance
Trustee liability insurance is designed to protect the trustees, directors, governors, committee members and officers of a charity, club, association or not-for-profit organisation.
Cyber Insurance
A cyber insurance policy helps pay for financial losses they may incur in the event of a cyberattack or data breach. It can cover costs related to the remediation process, such as paying for the investigation, crisis communication, legal services, and refunds to customers.
Employers’ Liability Insurance (EL insurance)
EL – is a legal requirement if you have any staff, full-time, part-time or contracted. EL insurance protects employers’ from compensation claims from their employees should a claim be made against them for loss or injury at work. Your policy must have a minimum of £5m cover, with £10m being the industry standard.
Fidelity Insurance
Fidelity insurance covers losses sustained by the employer as a result of an act of forgery, fraud or dishonesty from an employee.
Fleet Insurance
If your business has two or more vehicles – be they vans, trucks, or pieces of plant equipment – you can cover them all on a fleet insurance policy.
Management Liability Insurance
Management liability insurance covers your business & people: directors & officers insurance, employment practice liability & corporate legal liability.
You can rely on us to:
- Keep you appraised of developments in the Solicitors PI market
- Provide advice around “best practice” and attaining the Lexcel quality mark via our qualified Lexcel consultants
- Take the time to understand your practice
- Work with you to put together a clear and concise presentation for insurers that represents your risk in the best possible light
- Introduce you to the correct insurance partners for your firm
- Deliver competitive premiums
- Proactively handle your claims with insurers
- Consider more than just your PI exposure
- Always put your needs first
How we can help solicitors of different sizes and types
Through our long standing relationships with the London PI insurers we have access to the open market so are not a limited to a set panel of insurers or a single insurance scheme. This means that regardless of your practice size, work split or claims experience we can provide you with impartial and independent advice that is bespoke to your needs.
We have also established strong working relationships with a number of law firms and specialist service providers who can provide additional services including training, compliance and strategic/operational risk management, all of which can reduce the risk you represent to prospective insurers which is reflected in the premiums you pay.
Questions?
Ready to protect your scale-up with insurance that matches your ambition? Contact us today to start a conversation. Let’s build a insurance roadmap that powers your growth and reflects your values.
What Our Clients Say...
How we make it possible
We listen, we understand and we advise.
As one of the UK’s fastest growing insurance brokers, Jensten Insurance Brokers, is an award-winning broker with specialist advisers across multiple classes of insurance cover and sectors. Our track record of delivering for clients makes us a leading choice.
We also strive to be an employer of choice, giving our clients access to passionate, talented advisers, and our people an enjoyable and rewarding career.
News & Insights
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Professional Indemnity Insurance: Common issues with contracts and things to consider
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The Dangers of Self-Insuring High Value Building Projects
Solicitors Insurance FAQs
This is one of the more complex areas of cover, so to help you get the protection you need, here are our Solicitors Insurance frequently asked questions. We hope they will help, but if you’d like some independent advice, please call us on 01903 444 951 and we’ll be only too happy to help.
While solicitors insurance is not a direct legal requirement, professional indemnity insurance for solicitors is a compulsory regulatory requirement set by the Solicitors Regulation Authority (SRA). This indemnity insurance for solicitors ensures protection against claims arising from legal work and professional services provided. Additionally, if you employ staff in your practice, you will also need Employers’ Liability Insurance.
After The Event (ATE) insurance is a type of legal expenses insurance taken out after a legal dispute has arisen. It covers the costs of taking a case to trial and protects the policyholder from having to pay their own disbursements and the opponent’s costs and disbursements, should the case be lost.
Solicitors insurance encompasses various insurance services tailored to the legal profession, including solicitors professional indemnity insurance, which provides financial protection against risks faced by legal professionals. This insurance can include cover for defence costs, claims arising from professional negligence, cyber threats, and other trading liabilities. Solicitors’ insurance can be tailored to the specific needs of your practice area and business size.
Getting a quote is easy. You can call the team on 01903 444 951 or request a callback and one of the team will call you to discuss your needs.
Solicitors professional indemnity insurance (PII) covers claims arising from alleged negligence, breach of trust, or errors in legal work performed by solicitors. It provides comprehensive cover including compensation payments, defence costs, and legal expenses, ensuring protection for both the firm and individual practitioners.
Professional indemnity insurance for solicitors is essential because it protects legal professionals against claims made by clients or third parties relating to their services. It is a compulsory requirement by the Solicitors Regulation Authority (SRA) to maintain professional indemnity insurance to practice law, safeguarding both the solicitor’s reputation and financial stability.
Conveyancing professional indemnity insurance is a specialised form of solicitor indemnity insurance designed to cover legal professionals involved in property transactions. It protects against claims arising from errors or omissions in conveyancing work, including issues related to the Land Registry and title defects.
The extended policy period and run off cover are important features of solicitors professional indemnity insurance. The extended policy period provides continued cover beyond the renewal date if a firm has not yet renewed its policy. Run off cover protects solicitors after they cease trading, covering claims that arise from previous legal work done while the practice was active.
Yes, sole practitioners can obtain solicitor professional indemnity insurance tailored to their specific practice needs. Many insurers, including Jensten Insurance Brokers, offer policies designed to provide the right cover for sole practitioners, ensuring compliance with regulatory requirements and protection against professional risks.
Choosing the right professional indemnity insurance solicitor policy requires expert advice and understanding of your firm’s practice area, business size, and risk profile. Working with specialist insurance brokers experienced in the insurance market for solicitors can help you find the best policy with competitive premiums and comprehensive cover.
If you have a claim arising under your solicitors PII, notify your professional indemnity insurer immediately. Provide all relevant information and cooperate with the claims process to ensure your defence costs and potential compensation payments are managed effectively
The Solicitors Regulation Authority (SRA) sets minimum terms and conditions for professional indemnity insurance solicitors must maintain. These SRA minimum terms ensure that the insurance policies provide adequate cover for claims arising from legal work and protect clients and solicitors alike.
