Supporting your firm and your clients
Law firms experience a distinct set of risks and challenges. This is regardless of their size or practice area. The legal profession often comes with significant exposure to potential liabilities.
We work with over 1,500 law firms across the UK and have a branch network that includes over 40 offices which means we provide local service to our clients. Importantly, we have an exclusive professional indemnity scheme for solicitors with one to 10 partners and bespoke solutions for those with 11-plus partners.
The following are key areas of support we offer:
Solicitors professional indemnity insurance
Mistakes in legal work and advice and human error are inevitable. Your firms' financial security can depend on how well you're protected. Particularly against lawsuits or claims. We have an exclusive facility and work directly with insurers, avoiding the extra costs of wholesale arrangements. We will also review the market outside of this facility as required.
Management liability – are you protected?
Directors and senior managers face the same liabilities as those in public corporations. In an increasingly litigious society, their duties and actions are under greater scrutiny. Claims can arise from employees, customers, suppliers, shareholders, and competitors. Sometimes even if they're unfounded. This is why we recommend considering management liability insurance.
Cyber risks
Businesses are relying on digital solutions more and more. This means your business can become more vulnerable to cyberattacks. Cyber insurance provides essential protection and recovery from cyber incidents. It covers losses and associated costs from breaches, business interruptions, ransomware, and more. You can also safeguard your clients, data, and reputation.
People risks
Your business may have legal requirements. This can include employer liability (EL). Or you may need vital protection against employment-related risks. We can advise you on the appropriate level of cover for your business. We also offer market-leading employee benefits services. We'll explore the best benefits and solutions for you and your team at competitive prices.
Risk & error Management and Enterprise Risk Management
You can access training sessions, bulletins and risk publications from legally qualified experts. This can help reduce errors by analysing various factors. These include skills-based mistakes, slips and unconscious failures. Ethical or compliance violations are also factors.
Supporting your clients
We can act as a professional deputy or advise lay deputies. We offer a range of insurance schemes and value-added services. This includes surety bonds and residential property insurance, tailored to your needs.
Litigation risk solutions
Law firms involved in litigation, conveyancing, and probate must navigate insurance distribution activities. They must adhere to Solicitors Regulation Authority (SRA) rules. Our team provides information on these requirements. We can also place After the Event (ATE) insurance.
Legal indemnities
Our dedicated legal indemnity specialists offer broad legal indemnity solutions. We can provide full insurance services. This can help reduce risk in property transactions.
Mergers and acquisitions
If you’re advising clients on mergers and acquisitions (M&A), we can support you. We can help you with warranty and indemnity insurance (W&I) and tax and contingent risk insurance. We can also carry out insurance due diligence.
Quality service and professional advice from passionate people
- Specialist
We support legal services clients across the whole legal services landscape. - Experience
More than 80 years’ experience designing and placing insurance for law firms. - Consultative
We’re advisers, not salespeople, here to support you. So while you focus on supporting your clients, we’re here to protect you. We'll make insurance one less thing for you to worry about. - Committed
Representing your best efforts and what is best for your business. - Capable
You'll get access to world class insurance and risk services. Part of one of the world’s top insurance brokers and risk advisers, Marsh.
Get in touch with a solicitors PI expert today
We'll help you get the professional indemnity cover you need for your business.
Frequently asked questions
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Yes – we can source cover for one partner firms through to supporting the largest multinational law firms.
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Yes; having an exclusive facility helps us ensure you have the most cost-effective terms on the table. We can also canvas all insurers for competitive coverage options and have access to Marsh facilities to provide excess layers of coverage at competitive pricing.
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The SRA indemnity insurance rules require solicitors to maintain professional indemnity insurance. This needs to meet the SRA minimum terms. This ensures that law firms are well protected against claims arising from their professional services.
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Defence costs are covered under solicitors' professional indemnity insurance. This provides essential financial support for legal expenses incurred while defending against claims. This coverage is crucial for protecting law firms facing litigation.
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Comprehensive cover is recommended for law firms. This includes solicitors professional indemnity insurance, an office package policy, management liability insurance, and cyber insurance. This multi-faceted approach helps protect against various risks. It covers both trading liabilities and cyber threats.
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The insurance market addresses the unique risks and challenges that law firms face. We have over 80 years of experience providing expert advice. We can provide access to a range of tailored insurance products.
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The Legal Ombudsman addresses complaints against solicitors. Some complaints can lead to claims against their professional indemnity insurance. Having adequate insurance cover helps law firms financially manage these claims.
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Run-off cover is essential for solicitors who are ceasing practice or retiring. It provides protection against claims that may arise after a firm has closed. It ensures that former clients can still seek redress for issues that occurred during the period of practice.
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The land registry is crucial for property transactions. Legal indemnities can protect law firms against risks associated with property damage. This also protects against disputes arising from land registry issues. This coverage helps mitigate potential liabilities in property dealings.
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The cessation period refers to the time after a solicitor stops practicing. Claims can still be made against solicitors during the cessation period. So it's important for solicitors to have appropriate insurance coverage during this period. The right cover can protect against any claims that may arise.
