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March 30 2021

Extended policy period - What you need to know

Due to hard market conditions and the ongoing impact of Covid-19, some practices may be facing very difficult decisions during their upcoming professional indemnity insurance (PII) renewal period. The unfortunate reality is that some firms may struggle to obtain cover and could fall into the extended indemnity period as a result.

March 22 2021

Guidance - Fraud & Scams

Property Hijacking

Property hijacking has become more prevalent in the UK and the coronavirus crisis has given fraudsters more opportunity to make money, fuelling the growth of crime in the UK.

February 04 2021

Guidance - Compliance

Abiding with the SRA transparency rules

December 2018 saw the SRA introduce new transparency rules for the legal profession in England and Wales. As part of this, a new requirement was introduced for all regulated practices to publish pricing and information for the following services on their websites.

Solicitors Guidance - How to select your indemnity limit

January 27 2021

Guidance - Risk Management - General

Solicitors Guidance - How to select your indemnity limit

Top-up insurance for solicitors (also known as excess layer insurance) is coverage that is placed above, or in excess of, the compulsory primary indemnity limit set out by the solicitors Regulation Authority (SRA).

Protecting your business - Office insurance tailored for the legal profession

January 20 2021

Guidance - Risk Management - General

Protecting your business - Office insurance tailored for the legal profession

Office Guardian is a Lockton service provided by MS Amlin, designed to provide your business with comprehensive, effective insurance protection at extremely competitive premiums. Using a unique, tailored approach, Office Guardian provides market leading-cover, purpose-built to meet the specific requirements of your solicitor practice.

Mergers: a case of 'marry today, divorce tomorrow'?

January 13 2021

Guidance - Risk Management - General

Mergers: a case of 'marry today, divorce tomorrow'?

While the October insurance renewal season saw premiums increase across the board, also noticeable was a rise in mergers and acquisitions, especially in the small/medium firm sector.

January 06 2021

Guidance - Compliance

The compliance year ahead

As Compliance Officers return to work after the strangest Christmas which most of us can remember, it’s time to write that compliance plan for the year ahead.

Stoffel v Grondona – a cautionary tale for property lawyers?

November 24 2020

Guidance -

Stoffel v Grondona – a cautionary tale for property lawyers?

The Stoffel v Grondona case has put the illegality defence into the spotlight. This Judgement provides useful guidance on the application of necessary considerations, but it also presents uncertainty around how future courts may assess competing public policy considerations.

October Renewal Season Review - A Challenging Environment

November 19 2020

Guidance -

October Renewal Season Review - A Challenging Environment

To say SRA regulated legal practices have experienced tough conditions within the PII market in 2020 may well be perceived as an understatement by some within the profession. Many practices experienced one of the hardest renewal periods since the commencement of the Open Market in September 2000.

An update on new UK Trust regulations - A shake up following an EU-wide directive to tackle money laundering.

October 16 2020

Guidance -

An update on new UK Trust regulations - A shake up following an EU-wide directive to tackle money laundering.

Since 2017, certain trusts have had an obligation to report information to the Trusts Registration Service (TRS). The next phase of the EU directive is set to increase the amount of trusts that must submit their reports.

Important Update for Clients - IUA Open Letter

September 07 2020

Guidance -

Important Update for Clients - IUA Open Letter

It is important to inform you of a recent development within the PII marketplace. Much has been reported about the prevailing insurance market conditions and the impact that claims activity experienced by the Legal Profession has had on Insurers.

The stamp duty holiday - a positive move but it comes with increased risks for conveyancers

July 23 2020

Guidance -

The stamp duty holiday - a positive move but it comes with increased risks for conveyancers

Chancellor Rishi Sunak’s announcement that he is introducing a Stamp Duty Land Tax holiday to help jump start the economy was welcome news, but it does bring some increased risks for conveyancers.

July 08 2020

Guidance -

Our Top 10 Cyber Insurance Questions

In the complex world of cyber, you should always stay ahead of the curve. We look at the top 10 questions Lockton's cyber risk specialists hear in relation to insurance.