Do I have enough PI cover?
We often get asked whether the limit of indemnity a firm buys is enough, which is an interesting and pertinent question for any law firm.Read More
Additional Information – does it really make any difference?
Often we’re asked whether providing additional information to insurers really does make a difference to securing a competitive premium. In this article we explore with our underwriters why this is now more important than ever, but also how best to achieve this for your firm.Read More
Personal Injury Practices - Are you prepared for renewal?
Lockton continue to act for a large number of legal practices who undertake a significant proportion of personal injury work. Through our continued engagement with these firms we understand and appreciate the potential challenges businesses are likely to face arising from the Civil Liability Act, should the continued endeavours of various groups and individuals not be successful.Read More
Preparation is key | A guide for upcoming renewals
It has been widely documented in the insurance press that the UK Professional Indemnity Insurance (PII) market is challenging. A number of participating insurers are reviewing their solicitor portfolios as a direct result of claims activity. Because of this claims activity, rates may well increase for a number of areas of law. At a time when it is as crucial as ever to stand out from the crowd, this article highlights the benefits of investing in your PII renewal process, meanwhile reducing the potential for unnecessary stress further down the line.Read More
Extended Indemnity Period – Dispelling the Myth
To put simply, the Extended Indemnity Period (EIP) is not “extra time” to renew your Professional Indemnity Insurance. There appears to be a common misconception of what the Extended Indemnity Period (EIP) is intended for. This article aims to clarify matters whilst also addresses the potential implications and impact on a practice entering the EIP.Read More
Emerging areas of law – An option for the future or an opportunity right now?
There will always be a demand for traditional areas of law such as conveyance, personal injury, wills, trust and probate, family, employment and commercial but with increasing competition along with continued pressure on fees it might be worth considering some of the emerging areas of law that could compliment your existing offering.Read More
Reflection on the latest PII renewal season
Leading up to the latest renewal season there was plenty of publicity concerning the insurance market place and the possibility of rates hardening. Following the conclusion of the March and April renewal season and practices are now in receipt of their policy documentation we can reflect and report on what has occurred during this renewal period, using our portfolio of clients as the basis of our consideration.Read More
Can Law Be Flexible?
We are frequently advised by our clients that succession planning is becoming more difficult, as fewer fee earners have the desire to become equity partners. They also comment that younger employees are likely to hop between employers as they chase rapid career progression.Read More
Responding to Subject Access Requests (SARs) – Practical Tips
Since the introduction of the GDPR in May last year individuals have become much more aware of their rights to access their personal data. It is therefore extremely important that you have a clear action plan in place to process SARs within the short statutory timescale and to avoid fines or censure. Below we look at the SAR requirements, the practical impact of them, and some top tips for ensuring you get it right.Read More
Passwords - what should you be doing to protect sensitive data?
There is no doubt Data Protection has always been a key part of the day to day business environment, now with the fines and penalties that could be imposed by the Information’s Commissioners Office (ICO) with the new General Data Protection Regulation (GDPR) it has focussed our minds.Read More
Reporting Suspicious Activity to the NCA – the latest case of Lonsdale v. Nat West Bank
The case of Lonsdale v National Westminster Bank plc  EWHC 1843 (QB) has been widely reported and has caused some consternation as to whether those making Suspicious Activity Reports (SARs) could potentially find themselves subject to a claim for defamation. In this blog we will look at what happened in that case and the potential implications for MLROs before giving some practical tips about what sort of information to include when making SARs.Read More
Beware of the Cuckoo
In the legal profession, recruitment can be an exhausting and unpredictable process. At times you can spend months finding an individual only to be let down at the eleventh hour, losing out on valuable fee earning hours in the process. Whilst frustrating, it is important that this does not lead rush decisions or settling for second best. We’ve put together some points to consider to help make recruiting as productive as possible in the long run.Read More
- Proposal Form -
Solicitors Professional Indemnity Proposal Form (1-20 Partners)
- News - Property/Conveyancing
Leasehold properties - Grounds for concern for solicitors?
- News - Property/Conveyancing
- News - Professional Indemnity, Claims
Insured with Enterprise? Managing the fall-out from liquidation
- Guidance - Risk Management - General, Legal/regulatory changes, AML
The Biggest Change to AML in a Decade
- News - Risk Management - General
Client Account Dangers Exposed
- Guidance - Fraud & Scams
Invoice fraud: educating your clients
- News - Professional Indemnity
Solicitors PII Renewal Statistics - a year in review