title

Solicitors Professional Indemnity

The quality of your Solicitors Professional Indemnity Insurance underpins your reputation and integrity with your clients.  As a regulatory requirement, it's critical that it performs for you and your practice. As one of the few brokers with a specialist team dedicated to solicitors' PII it's perhaps no surprise that Lockton account for 30% of the insurance premium placed with the top 10 rated insurers.

Why choose us?

Competitive quotes from across the market

  • We access one of the widest range of insurer markets, including exclusive access to 3 A-rated insurers
  • Placing £86m in solicitors' PII premium across the market, we can negotiate harder on your behalf to secure the best long-term premium
  • We arrange cover for firms of all sizes, from sole practitioners to magic circle firms.

Simpler renewal process for you

  • Our online prepopulated proposal form ensures that your renewal process is as smooth and efficient as possible.

Our Service sets us apart

  • We offer independent advice on the best deal for you
  • We are specialists who understand your business.  Our dedicated Solicitors' Team is one of the largest in the country and works year round on servicing our solicitor clients' needs.
  • We provide you with a dedicated Account Manager who will be your first point of contact
  • We offer claims advocacy, risk management consultancy, and ongoing advice, training and support (including our suite of on-line resources) all year round

Reputation

  • Lockton has an enviable 95% client retention rate.  Most of our new business comes from referrals and recommendations
  • We only deal with reputable A-rated insurers. The service you receive, and your reputation, matters.

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

PII | Cyber | Crime

Besides negligence error and omissions picked up under the SRA minimum terms and conditions, threats such as cyber-attacks and data breaches are all part and parcel of modern day business risks law firms now face.  In addition to the threat posed by criminals, there are new regulatory obligations which bring with it new risks which need to be protected.

We have created an exclusive and unique product that presents a seamless and interlocking insurance product for the UK legal sector. It incorporates both Cyber and Crime cover with your compulsory SRA PII insurance policy.

It not only protects the interest of your clients, but is designed to protect you as well.  In the event of a data breach or incident, you'll have access to leading forensic experts and specialist advisors, putting your business back on track and minimising the impact to you.

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Cyber Liability

Law firms, by their very nature, store large amounts of their clients' most confidential data.  Preserving that client confidentiality is at the heart of your relationship of trust with your clients - and fundamental to your firm's reputation and ongoing success.

In today's networked digital world, not only is data theft an increasing focus of criminal activity, it's also becoming more and more difficult to control, secure and preserve that data.

Lockton's specialist Global Technology and Privacy Practice is at the leading edge of cyber risk solutions, both in the UK and worldwide.  We place Cyber Liability Insurance policies which provide protection against financial losses (including third party liability and fines and penalties  [fines of up to £500,000 can be levied under the terms of the Data Protection Act] arising from your practice's information technology.

We tailor the covers to suit your needs.  Typical covers include:

  • Network security and privacy liability
  • Regulatory defence
  • Loss of Digital Assets
  • Non-physical Business Interruption

To discuss the extent to which you are already covered for these risks by your existing insurances, and whether Cyber Liability Insurance would be right for you, contact our Global technology & Privacy Practice for impartial, expert advice.

Lockton also provides its clients with practical advice and a range of online resources to assist you manage your managing information security risks.  Contact our Solicitors' Team for more information.

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Office Insurances

Office Guardian from Lockton provides market leading cover - using a bespoke wording specifically designed with the requirements of solicitor practices in mind.
Your premises and assets are critical to the smooth running of your firm.

Theft of equipment or money, or damage to buildings through fire, flood or other disaster will often have a significant impact on the ability of your business to function at its best.

Office Guardian provides your business with comprehensive and cost-effective insurance protection,  including the following risks

  • Buildings and contents
  • Computer Equipment
  • Business Interruption
  • Money
  • Public Liability
  • Loss of documents
  • Employers Liability
  • Loss of rent

Office Guardian delivers exceptional cover and very competitive premiums (from only £2,000 +IPT).  Cover can be tailored to meet your specific needs.  And should the need arise, we offer a 24/7 claims service from a dedicated support team, including your own named claims handler.

For more information, or to speak to our Office insurance team - email us, or use the contact details above.

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Management Liability

Solicitors are working in a challenging business environment, and face increasingly complex and onerous regulatory and compliance demands. While your practice will have comprehensive protection against claims made by clients, are you protected against claims arising from the management of the business?

Lockton broker management liability products are specifically designed for the legal profession - whether you are a two-partner practice, a multinational practice, an incorporated practice or an ABS.

Management Liability Insurance protects the practice and its officers/managers from exposure to liabilities arising from:

  • Health and Safety breaches
  • Regulatory proceedings and investigations
  • Employment practices
  • Civil/Criminal actions [eg. under Legal Services Act 2007, Companies Acts; Financial Services and Markets Act 2000; Insolvency Act 1986]

We offer the full range of options - ranging from full management liability cover {including cover for employment liability; management claims against the practice; and claims against individual managers}; required by many larger firms, through to our unique Regulatory Response Cover, which is specifically designed to meet the needs of smaller firms.

The majority of Management Liability policies are not suitable for traditional partnership models or LLPs.  We will ensure that you are advised of the policies and covers  that best fit your particular needs.

We have a specialist Management Liability Team who can assist with any enquires.  Alternatively, contact your Lockton Account Executive.

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Regulatory Response Insurance

Regulatory Response Insurance protects against fines and defence costs arising from proceedings brought by any regulatory body {eg SRA, FCA, HSE.} against either the practice or those individuals performing regulatory functions within the firm  (for example, the firm's COLP, COFA or MLRO).

The Lockton Regulatory Response policy is simple, clear and affordable - and is ideally suited to the needs of a small to medium-sized firm seeking to protect itself against the potential costs of regulatory breaches.

The policy is very cost effective, providing cover only for insurance regulatory breaches.  You benefit from a number of pre-set cover options, with upfront set-rate premiums, making it easy to take out only the cover you actually need, at a cost you can afford.

For more information contact our Solicitors' Team.

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Asset/Insolvency Protection

Partners and Members of Partnerships and LLPs can both be exposed to personal liability, particularly if the practice becomes insolvent.

While your Practice's Professional Indemnity insurance will, in the vast majority of cases, cover the cost of any claims that might arise, there could be circumstances where a a catastrophic claim could exceed your available PII cover and expose you to personal liability.  In such circumstances, an asset protection policy would help to protect you and your family against the impact of insolvency of the partnership or LLP.

Pro-Tect for Partnerships

Lockton's Pro-Tect policy has been specifically designed to protect your family and dependants in the event of insolvency of your partnership following (but not necessarily exclusively caused by) a catastrophic PI claim.  The policy can provide up to £10m cover to secure your home, and ensure that your family have the necessary funds to continue to support themselves.

Renaissance For LLPs

Renaissance is exclusively formulated by Lockton to address the specific needs of members of an LLP.  Unlike a conventional asset protection policy, Renaissance has the additional benefit that it can actually assist in preventing an insolvency altogether. The Lockton Renaissance policy is the first product of its kind to offer two layers of protection for members of an LLP:

It can provide 'excess layer' cover above the firm's Professional Indemnity insurance where a claim would otherwise exhaust the PI cover held and thus render the LLP insolvent;

Where a claim threatens the solvency of the LLP, the members can call on funds from the policy to top-up a settlement offer.  If the claimants refuse to settle in accordance with the offer, and the LLP does become insolvent as a result, then a distribution up to the policy limit is made to the members personally for their own use.

In essence the policy gives members maximum room for manoeuvre when faced with a catastrophic professional negligence claim.

Contact our Solicitors' Team for more information

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Title Insurance

A significant percentage of properties bought and sold each year are subject to title defects/risks.

Title insurance can provide protection for a wide range of title problems which can prejudice your client's ability to obtain a mortgage, including:

  • Adverse Possession
  • Lack of Rights of Way and Services
  • Transfers at Undervalue
  • Lost Title Deeds
  • Manorial Rights
  • Common Land
  • Rights of Light
  • Mines and Minerals
  • Outstanding Leasehold Interests and Mortgages
  • Possessory/Qualified/Good Leasehold Titles
  • Rentcharge Liabilities
  • Judicial Review
  • Chancel Repair
  • Other restrictive covenants

Informing your property transaction clients about title insurance forms part of a comprehensive service offering - as it provides clients with the facts from which to make informed decisions.

It can therefore also help reduce the risk of complaints and claims against you where a transaction would otherwise have fallen through.

In cases where there are complex title issues at stake, a title insurance policy can assist resolve issues in a timely and cost-efficient manner.

Lockton can arrange title insurance solutions to fit your client's requirements - from instant online quotations from our preferred partner, Titlesolv

Titlesolv online provides solicitors with instant quotes and immediate cover for search indemnities and known defect policies for both residential and commercial risks in less than three minutes.

titlesolv online can also provide 'Top-Up' policies designed to supplement any existing indemnity policy (whether provided by titlesolv or another provider) to safeguard property owners and mortgage lenders against a shortfall in cover caused by increases in property prices.

titlesolv offers a 20% discount for policies purchased on the same day for the same property.

titlesolv also offers inflation protection on the limit of indemnity

Simplicity:

No complicated agreement or exclusivity commitment - just a simple online registration providing instant access to quotes and immediate cover

Fully web-enabled from registration to quotation to purchase to policy documentation

Easy to understand 3-page policy

Security:

Comprehensive and secure policies underwritten by the major legal indemnity insurance carriers, including Zurich Insurance plc, Aviva Insurance Limited and First Title Insurance plc

Access to extensive underwriting capacity for the largest risks

Limits of indemnity available online through titlesolv up to £5 million, one of the highest in the marketplace

}, for more straightforward domestic conveyancing transactions, to bespoke multi-class policies or multi-risk facilities for large or complex commercial transactions.

Lockton can also arrange policies for known risks, where a particular defect or issue has been identified in the due diligence process, or 'blanket' policies covering a range of potential unknown title issues.

For more information or to arrange bespoke title insurance for your clients needs, contact our Real Estate Team

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

After The Event insurance

If your firm continues to take on work on a conditional fee arrangement (CFA), After the Event insurance can provide your client with an indemnity for legal costs, in the event that your client's litigation or arbitration is unsuccessful.
In addition to your own legal fees and disbursements, the policy will cover potential liability for adverse costs  [hover over to read:   Qualified One-way Costs Shifting ("QOCS") applies  to any CFA signed after 31st March 2013, however there are still circumstances in which an unsuccessful claimant may be liable for the defendants costs] .

AtE in commercial litigation has seen rapid growth in recent year, and remains a viable option, notwithstanding the Jackson reforms.   Damages Based Agreements (DBAs) have been extended to apply to all civil disputes.  Under a DBA, the solicitor is paid only if the client's case is successful, and the fee is calculated as a percentage of the damages awarded to the client.  Caps apply to any contingency fee.

Lockton has been instrumental in arranging AtE insurance for some of the highest value AtE funded commercial litigation disputes - placing limits of up to £10m for our clients.

For more information, or to discuss whether AtE could add value for your clients in a particular litigation action, contact Brett Warburton-Smith.

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Risk Management Training & Consultancy

Whether you are concerned about your claims record,  unsure of how best to present your practice to insurers, looking for training and CPD, or are looking for guidance and resources to assist you manage your regulatory and compliance obligations, Lockton can assist.

As competitive pressures increase and profit margins are squeezed, effective risk management makes good economic sense - but many practices struggle to find the time required to implement effective procedures and controls.  In recognition of this, Lockton employs a full time Risk Manager (and qualified solicitor), and has invested in an online client portal dedicated to reducing the burden of risk and compliance for our solicitor clients.

  • We help you manage your insurances online, and reduce the burden of the renewal process
  • We provide online guidance on the hot topics in claims - and tips on how to avoid the pitfalls
  • We provide practical guidance notes and templates on a range of risk issues
  • We provide free CPD training - online and in person
  • We can undertake risk audits, and suggest how you can improve your risk profile.

To find out how Lockton can help you - contact our Solicitors Team

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Private Client insurances

Solicitors are not just a class of business to Lockton - you are important clients as individuals.  We believe that to serve your needs properly, we have to focus on more than just the needs of your business.  Whether for your own needs, the needs of your family, or for those of your valued High Net Worth clients, Lockton's Private Client team deliver bespoke, tailored, insurance solutions.

We make it our business to understand your needs and the needs of your family, delivering an exceptional, personal and flexible service whatever the asset, wherever the location, and regardless of whether it is fixed or mobile. We understand that a wide-ranging and fluid asset portfolio won't fit neatly into boxes, and so with us, you'll receive the benefit of an intelligent approach to diversified risk.

We provide tailored cover for:

  • Property - Buildings and General Contents (main, second, holiday, overseas etc)
  • Art and Collectables Jewellery
  • Motor (everyday, sports, performance & supercar, quads etc) Specialist and Classic Car
  • Annual Travel (included in Household) Yacht
  • Equine
  • Farm & Estate
  • Jet (via Aviation)

For more information about our private clients service visit our dedicated Private Client website  or contact our Private Client Team

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Claims Consultancy

Choosing a broker is not just about who can get you the cheapest insurance deal - it's about ensuring that your business benefits from the best overall value proposition.  No-one wants a claim to occur, but when it does, it's essential that it is resolved in the best way possible.
The quality of claims service is regularly cited by clients as a key factor in their choice of both insurer and broker.  Lockton's claims consultancy (included as standard with our brokerage services) stands peerless amongst our competitors.

We have a strong team of experienced Claims Advocates and Executives who have the expertise, knowledge and diplomacy to work with you to enhance the handling of complex or high value claims - to achieve the best result for you.

Our claims specialists do not simply become involved when a claim arises.  They are a key part of insurance programme design to ensure a streamlined claims management process is delivered.  They will liaise with insurers to agree and enforce prompt payments, and, alongside our Risk Manager, will assist clients in addressing any claims issues in order to present the best possible risk profile at renewal.

Contact our Solicitors Team for more information

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

title

Employee Benefits Consultancy

Your staff are your single biggest cost and resource.  In a top-end service profession where reputation and trust are critical to success, retaining and rewarding your best people is vitally important.

Lockton Benefits UK specialises in employee benefits, particularly group programmes such as medical and dental insurance, death in service and disability cover.

Our in-depth market knowledge enables us to provide benchmarks for clients, and to provide financial projections to evaluate insured and self-insured solutions. We take a consultative approach, and will take the time to understand your specific goals and design a programme that fits your needs.

The benefits market can be commoditised and transactional.  Regardless of your size or location we will provide a personal, tailored service, aggressively negotiating best-value coverage, and implementing a service plan. You will have the same dedicated service team throughout the entire process - enabling us to anticipate your needs and create accountability.

Our services include:

  • Strategic benefit design
  • Benchmarking and audit
  • Data capture and analysis
  • Global programme management
  • Employee wellbeing, and benefit integration
  • M&A due diligence, and harmnisation
  • Projection of claims costs
  • Claims advocacy
  • Risk financing solutions

To find out how we can assist you, contact our Employee Benefits Team

Case study: Acheiving major savings AND improving compliance for Major law firm

The UK and international medical programme of a major UK law firm was facing high premium increases and compliance gaps in respect of international  placements. Lockton Employee Benefits team was instructed to review the programme.

Following a full audit, and benchmarking exercise, we undertook a competitive tender exercise.  The solution delivered in excess of £250,000 savings while delivering solutions that fully met all compliance requirements.

 

To Contact Us By Phone

Our sales and enquiries lines are open 9AM to 5PM, Monday - Friday. We are closed at the weekend and on public holidays. Solicitors Hotline: 0845 050 1471