Solicitors Professional Indemnity Insurance

Solicitors Professional Indemnity insurance

Your clients depend on your expertise and trusted legal guidance to overcome complex obstacles. While your expertise is your greatest asset, it also exposes you to potential claims of professional negligence.
In the face of allegations of professional errors, omissions, or misinterpretations, having the appropriate insurance coverage is essential.

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Why do Solicitors need Professional Indemnity insurance?

As a legal practice, your reputation can take years to build and only a few moments to lose.

For Solicitors, a comprehensive insurance programme is essential. The complexity of the professional services you offer makes you susceptible to legal challenges and claims of negligence.

Implementing a robust risk management programme alongside appropriate insurance coverage ensures you can navigate risks confidently, providing peace of mind should the unexpected occur.

Why should Solicitors choose Griffiths & Armour?

The Professional Indemnity (PI) market poses a range of challenges for Solicitors. Insurers are more selective within this sector, considering factors like practice size and areas of work. With our vast experience in this specialised insurance class, Griffiths & Armour provides expert brokers dedicated to solicitor clients.

We secure cover at even the most challenging periods, offering tailored and innovative insurance solutions. Our commitment extends beyond insurance, providing trusted advice and independent claims management support, thanks to our partnerships with leading law firms.

Which classes of insurance should Solicitors consider?

Professional Indemnity insurance

Professional Indemnity (PI) insurance can help to protect you if your services or advice result in losses or damage for your clients, the public or other third parties – even years after the services were provided.

Directors and Officers Liability

Directors and Officers have additional responsibilities to employees, the public, investors and regulators. The purpose of Directors and Officers Liability (D&O) insurance is to provide financial protection for Directors and Officers against legal costs, judgments, and settlements arising from lawsuits, investigations, or regulatory actions related to their management decisions or actions taken on behalf of the company.

Cyber insurance

Your network could be compromised by the loss of sensitive data or criminals holding commercial information to ransom. Cyber recovery can be costly, and Cyber insurance can help protect your organisation in the event of a data breach, security failure or cyber attack.

Crime insurance

Crime insurance provides protection against theft, dishonesty, employee fraud and fraudulent acts by third parties.

Office insurance

Your tools and specialist assets are crucial to your day-to-day work. Any loss, damage or theft can be costly.

Office insurance should always be a part of any solicitors’ insurance policy to protect your workspace and help cover the cost of replacing or repairing vital equipment.

Motor Fleet insurance

Motor Fleet insurance offers protection against accidents, theft, and third-party liabilities. Your fleet of company vehicles is an integral part of your business, and having tailored insurance will get you back on the road and minimise the impact of an incident.

Beyond Protection

Beyond Protection is our end-to-end support designed to empower your business at every stage.

Our team gives you the tools to increase resilience and create peace of mind, no matter the challenge.

We work closely with you to manage your claims efficiently, for a seamless experience.

Claims management

Our expert team uses leading insights to analyse macro and regulatory environments so we can help find cover for risks where others would struggle.

Market insight

Our technical advice is available on demand, helping you to navigate complexities and make informed decisions.

Technical advice

Streamlining risk management with tailored solutions guided by industry leading insight, technical guidance, training and data analysis.

Risk advisory

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FAQs

Why do Solicitor practices need Professional Indemnity insurance?

All firms which are regulated by the Solicitors Regulation Authority (SRA) must have Professional Indemnity (PI) Insurance which meets their minimum terms and conditions (MTC’s).

How much PI cover do Solicitor firms need to have in place?

The MTC’s include a minimum level of PI cover which a regulated Solicitor firm must have in place that is £3m for any one claim where the practice is a relevant recognised body, which includes Limited Companies and LLP’s, and at least £2m in all other cases. It is advisable for many firms, particularly those of a larger scale or in, to purchase levels of PI cover in excess of these minimums.

Why should I choose Griffiths & Armour for my Solicitor PI insurance?

As a leading independent insurance broker with extensive experience in this specialist insurance class, Griffiths & Armour has a dedicated team of expert brokers for our Solicitor clients, with full access to the market, our credibility and trust of key insurers enables us to secure cover even in the most challenging sectors. We pass the benefits of that expertise onto our clients who operate in the legal sector, delivering trusted advice with flexible and innovative insurance solutions. At Griffiths & Armour we do broking differently, going beyond insurance. Through established and ongoing partnerships with leading law firms, our team have gathered unique insights and detailed understanding of the PI insurance exposures for the legal profession, and our service offering includes genuinely independent claims management support.

"Beale & Co have a longstanding relationship with Griffiths & Armour both as a client and working with G&A’s clients. Griffiths & Armour provides the very highest level of services to their clients with, in particular, a market leading claims proposition (i.e. at the point when their support is probably most crucial their expertise, dedication and advocacy is quite simply superb). The team at G&A are not only extremely professional but highly personable to work with. In short, the perfect business partner."

Partner, Beale & Co Solicitors LLP

"Our team have worked with Griffiths & Armour Professional Risks for many years and cannot praise them highly enough. The service offered to professionals is second to none from the placement of the policy through to the handling of claims. They are there for the client at all points. Griffiths & Armour has developed the strongest of relationships with insurers and that relationship really does benefits their clients. From personal experience the claims team is of the highest quality and is head and shoulders above others."

Partner and Head of Professional and Financial Risks, Keoghs LLP