Solicitors will be especially aware of the legal ramifications which may manifest when a client suffers misfortune as a result of bad guidance. Legal professions are notoriously hazardous when it comes to supplying the client with the correct advice; mistakes made can result in a multitude of grievances for the client, making litigation common. If the client believes you to be liable for their misfortune, they may feel it necessary to pursue legal action. Due to the high risk nature of many legal services, it is a regulatory requirement for people working in this sector to have Professional Indemnity Insurance. Solicitors are no exception and will need an effective policy to cover against any potential claims brought against them.
2020 Insurance represents a strategic partnership between 2020 and Professional Indemnity Ltd, providing effective solicitors Professional Indemnity Insurance solutions.
PII remains something of a minefield and premiums for many laws firms have increased by at least 100% in recent years. Record numbers are being driven into the assigned risks pool and the number of approved insurers actively providing cover remains very limited. Professional Indemnity Ltd guide solicitors through this minefield enabling them to make clear and informed decisions, which best protect the firm at every stage of the insurance cycle.
Why Professional Indemnity Ltd
Transparency. Some brokers receive commissions of up to 15% of the annual premium but do not declare this commission to clients unless specifically requested to do so. Professional Indemnity Ltd believe that in many cases this in unjustified while premiums are rising significantly and adds to the burden of the premium. Because we are a fresh new PII specialist, our service is efficient and commissions and fees are among the lowest in the broker market. This can significantly reduce the premiums firms pay.
Remuneration Guarantee. Professional Indemnity Ltd inform clients exactly how much commission or fees we earn before we charge it and give a guarantee that it is fair and reasonable. We are so confident of the efficiency of our broker service that we guarantee to undercut your existing broker remuneration by up to 50%, provided it is not a closed scheme and they can access your renewal terms.
Independence. Professional Indemnity Ltd are independent brokers representing their clients best interests in all dealings with Insurers, from negotiating the premium to handling their claims.
Expertise. With over 25 years experience in the PII market, Professional Indemnity Ltd understand law firms and can deliver a high quality of service throughout the Solicitors renewal season and then during the entire insurance period.
What to do next...
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