Law Society provides professional indemnity insurance boost for members
Date Published: 24-04-2009
Law Society provides professional indemnity insurance boost for members
The Law Society has launched a package of measures aimed at assisting solicitors in obtaining professional indemnity insurance (PII).
In response to pressure from insurers to push up premiums, the Law Society has issued a practice note providing advice to solicitors on renewing indemnity cover. The Society has also launched a series of free seminars, in association with specialist insurance brokers Prime Professions Limited, around the country from May to July.
Des Hudson, Law Society chief executive, says:
“This package of beneficial guidance from the Society to its members is a product of thorough research conducted by the Society into the PII market since we set up a group to look specifically into the matter at the end of 2008.
“By rolling the practice note and seminars out now solicitors will be able to prepare for the PII renewals process early."
The free seminars will focus on practical advice and cover topics such as:
- Renewal planning – optimum timescales involved
- The information required for a successful renewal
- Presenting your firm favourably – common mistakes made
- The importance of good working relationships with your broker and insurer
- Benefits of risk management – what insurers are looking for
- Understanding the options available
- Securing the best terms for your firm
Delegates will be able to book a 15 minute appointment with an experienced member of the Prime Professions team to discuss their individual PII challenges, concerns and questions.
The free seminars will begin in London on May 26 and continue around the country until July 7.
To sign up to the seminars visit Law Society Events
Ends
Notes to editors:
View the Law Society's PII advice
Find out more about how the Law Society is helping solicitors survive the downturn
Journalists can contact the Law Society Press Office on 020 7320 5764.
