Specialist Lawyers & Solicitors Indemnity Insurance
When it comes to solicitors and solicitors firms, professional indemnity insurance (also known as PII) is one of the major overheads to be considered. Premiums for this essential class of insurance can vary widely from insurance company to insurance company so it’s best to go with a company that offers not only a comprehensive cover but also the experience and knowledge of your specific sector.
Solicitors indemnity insurance is in a sense regulated by the Solicitors Regulation Authority (SRA) and they stipulate a large degree of the policy wording. Despite this, the professional indemnity market for solicitors can still very much be a minefield.
Over the years, countless insurers have gone bust as well as law firms being forced into closure by the SRA due to an inability to obtain the correct cover. In order to provide the right cover, it’s important to have a strong understanding of the market and how it works. This will allow us to make a more informed decision when it comes to the right product for your firm.
Experienced & Professional Team Specialising in the placement of Solicitors and Lawyers
Here at Servca, we’re proud to boast a specific team with over 15 years’ experience within the London market. We operate a dedicated facility for Solicitors Professional Indemnity insurance here in the UK for both existing and start-up solicitors’ firms.
Our highly experienced professional indemnity insurance team are well versed in risk management as well as placing solicitors’ insurance requirements into the Lloyd’s of London market, who are an accredited and SRA approved participating insurers.
Specialist Solicitors Insurance by Servca (Lloyd’s of London Broker)
As an independent broker at Lloyd’s, we specialise in focusing on sole practitioners as well as partner firms consisting of 1-4 partners.
With the removal of the common renewal date from the SRA, we also now offer assistance to our valued solicitors all year round. This is to ensure we service our clients on a regular basis, offering full cycle claims management services as well as flexible monthly payments and 12,18, 24 and rolling monthly policies.
As a client of ours, we’ll obtain full risk management and claims summaries each year to ensure we can provide you with the best, most affordable policy options possible. We’ll do our best to negotiate the best terms and the most accurate reserves. Our specialist solicitors indemnity insurance is approved on the SRA participating insurers list, offering stability and peace of mind to every one of our valued customers.
One of the biggest risks facing solicitors here in the UK and globally happen to be cyber related risks, along with phishing emails to unsuspecting clients. To ensure our lawyers insurance provides the comprehensive cover needed, we have developed specialist coverage for solicitors seeking first and third party cover in the event of a cyber related threat or attack.
Whether it’s a loss of data, business interruption or even damage to reputation, with Servca, you’re covered.