Professional Indemnity Insurance (PII) is fundamental to the success and stability of every law firm. As specialist brokers for the legal profession, Howden understand the importance of keeping the profession informed so that firms can plan for your next Professional Indemnity Insurance (PII) renewal – you don’t want any surprises when it comes to the cover you need to stay in business.
A discussion regarding PII cover for work undertaken abroad or involving foreign law or overseas-based clients will be of interest to a number of you and if you are a solicitor with the responsibility for supervising junior lawyers, we include an article you can share with them on the basics of PII. Wellbeing within law firms is currently a hot topic for the SRA and should be on every law firm’s agenda. We are pleased to reveal some important insights from our specialist Employee and Benefits team on this important issue.
In our latest Market Report Howden examines the outcome of the October 2021 solicitors’ PII renewal and provides insight into what your firm can expect from the market in 2022. We also share with you some recent claims stats and offer the inside track on issues currently on your underwriter’s radar so you can consider what you might need to do in advance of your 2022 renewal.
There are a number of SRA-related issues currently circulating worthy of an update, including “silent cyber” and the current consultations regarding post six-year run-off cover and the SRA’s proposal to increase the fines it can levy against the profession.
The Market Report is available here: https://view.publitas.com/howden-uk-group/solicitors-market-report-january-2022/page/1
In the meantime, you may be interested in the following Employee Benefits content which has recently been published: