header-logo header-logo

Sky-high PII premiums for law firms

09 June 2021
Issue: 7936 / Categories: Legal News , Profession , Insurance / reinsurance
printer mail-detail
Law firms paid an average of 30% more for their professional indemnity insurance (PII) renewal this spring, according to a report, ‘Solicitors Season Review’, by Lockton Solicitors last month. 

In response, the Law Society is hosting a free PII webinar on 16 June. A spokesperson said the Law Society has a range of information for members here.

They added: ‘The situation is being made worse by a significant minority of firms producing claims that exceed the premiums raised by insurers. This situation is not sustainable, so it is essential that members―and those doing conveyancing work in particular―take steps to review their risk management practices.’

MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
The Court of Protection has ruled in Macpherson v Sunderland City Council that capacity must be presumed unless clearly rebutted. In this week's NLJ, Sam Karim KC and Sophie Hurst of Kings Chambers dissect the judgment and set out practical guidance for advisers faced with issues relating to retrospective capacity and/or assessments without an examination
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
back-to-top-scroll