Solicitor professional indemnity cover may be wide in scope, but firms still find themselves facing claims for which they are not covered
In this week’s NLJ, Frank Maher, partner in Legal Risk, writes that solicitors in England & Wales are often said to ‘have the widest cover of any profession in the world’ due to the breadth of their regulator’s Minimum Terms and Conditions.
However, he also points out: ‘All-embracing though solicitors’ insurance may appear to be, it is not without gaps.’ Maher, whose firm specialises in professional indemnity insurance law and professional regulation, presents examples of such gaps, gleaned from a wide range of cases where he has acted for firms.
Risks include insurers’ rights of reimbursement, and aggregation of claims arising from similar acts where a single policy limit applies.
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