Law Society launches professional indemnity insurance helpline for solicitors
Date Published: 09-09-2009
9 September 2009
Law Society launches professional indemnity insurance helpline for solicitors
The Law Society has launched a new dedicated helpline to provide information to firms facing difficulties obtaining quotes for professional indemnity insurance (PII).
This free helpline has been set up to support solicitors in the lead up to the renewal period of professional indemnity insurance and to answer other general PII questions.
The move comes as some solicitors face difficulties in obtaining cover and up to 20% increase in the cost of that cover, due to the increased threat of negligence cases arising from the recession.
Law Society Chief Executive Desmond Hudson said, "The Law Society is anxious to assist members who are facing difficulties obtaining PI cover. Small practices and practices that specialise in high risk areas, such as conveyancing are experiencing particular difficulties, which has prompted the Law Society to create a suite of advice products for solicitors and address some of the issues surrounding Professional Indemnity Insurance."
The helpline is free and available to all firms and will be especially helpful for those incurring problems obtaining a quote for professional indemnity insurance.
Lines are open 08.00-18.00 Monday-Friday.
E-mail PII@lawsociety.org.uk or tel: 0207 320 9545
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Notes to Editors:
The Law Society has collaborated with the British Insurance Brokers' Association and Association of British Insurers to produce a guide to buying professional indemnity insurance (PII) for solicitors. It provides information about the rights and responsibilities of solicitors, brokers and insurers in the renewal process: http://www.lawsociety.org.uk/new/documents/2009/pii_buyers_guide09.pdf
The Law Society practice note for solicitors describes PII requirements in the current market and details how solicitors should apply, alongside related issues: http://www.lawsociety.org.uk/productsandservices/practicenotes/piinsurance.page
Journalists for more information please call the Law Society press office on 020 7320 5902
