Solicitors Insurance

Solicitors Insurance

Looking for Solicitors Insurance? Needham can help with Law Society / SRA approved Insurance

To get a range of quotes or for more information, contact us here. Alternatively you can give us a call on 02476 326 213 to discuss your requirements further.
 
 

Special Requirements for Solicitors Professional indemnity - And how Needham Insurance can help

There are numerous specialist requirements for solicitors when it comes to insurance - most notably that they must stick to the common renewal date of 1st October, and that the insurance must be provided by an insurer participating in and approved as a supplier by the Solicitors regulation Authority (SRA). 
 
Needham has access to a range of approved providers and can provide the specialist advice you may need to get your Solicitors Professional Indemnity Insurance in place.

What does Professional Indemnity for Solicitors Insurance do?

Professional Indemnity for Solicitors, or Solicitors Insurance, protects businesses from any lawsuits filed against them from unsatisfied clients for injury, loss, or damage, arising from their professional negligence or that of their employees.

Why do you need Solicitors Indemnity Insurance?

Professional Indemnity Insurance (PI Insurance) protects your small business from situations that could potentially be reputation ruining or even bankrupting as a result of a claim made by an unhappy customer.
 
As a business owner you are open to risks such as:
  • Negligence - a breach of duty of care to your clients
  • Intellectual property theft - where you unintentionally infringe on someone’s copyrights or trademarks.
  • Loss of documents or data - damaged, lost or stolen data and documents belonging to your clients
  • Dishonesty - liability arising from the theft of your clients’ money, even from an employee
To get cover against these risks and more, contact one of our team on 02476 326 213. You can even talk to us in person from one of our offices based out of Nuneaton, Coventry and Hinckley. Find us here.

What cover does a Professional Indemnity for Solicitors Policy provide?

There are a number of ways that Solicitors Insurance can protect you.
 
It will cover you if you make a mistake in the professional services you have provided, for example, if you have given some bad advice that could lead to a dispute with a client. Your policy can pay for your legal fees should this dispute go to court. Your insurer can even defend your claim, right through to the high court.
 
Solicitors Insurance can pay for any mistakes that you have to rectify or any compensation that you need to pay out. It can even cover you if an employee loses or steals money or data from your clients. You can also take out Retroactive Insurance, which can cover you for any claims that are filed against you for work done before the policy was taken out.
 
To discuss your requirements further, call us on  02476 326 213 or contact us here.

How much Solicitors Insurance Cover will I need?

The amount of cover required differs from business to business. There is no legal requirement by law or rules to follow. Nobody knows your business and the risks it faces better than you, however one of our advisers will be happy to assist you in making this decision. Generally though, we advise you to take out as much insurance as you can afford. You should also consider the value of work it is that you do, not only to yourself, but also to your client.
 
It is not uncommon that a client will set a minimum limit of the indemnity they require before you can work with them. This may be determined on the specific nature of the services you’ve been contracted to provide, or they could have a set limit for all their service providers. Many UK government departments for example will require their contractors and consultants to have at least £5 million of cover.

Why compare Solicitors Insurance with Needham Commercial Insurance Services?

Needham Commercial Insurance Services can save you time and money on your Solicitors Indemnity Insurance. We compare the Professional Indemnity Insurance policies of all the main Commercial Insurance companies to find you the right cover at the right price.
 
Get your Insurance in place before October 1st by calling on us 02476 326 213 or for more information, contact us here. You can also book an appointment or drop in to one of our 3 offices in Nuneaton, Coventry and Hinckley, find us here.

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Needham Insurance Services is Authorised and Regulated by the Financial Conduct Authority. FCA Number 304514 Registered in England and Wales.         Registered number: 4066049.  Registered office: Needham Commercial Insurance Services, Manor Court Chambers, Townsend Drive, Attleborough Fields Industrial Estate, Nuneaton, CV11 6RU

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