The SRA have recently issued a statement to the profession stating that when their new Standards and Regulations come into effect on  25th November 2019, all professional indemnity insurance policies will need to change to reflect their requirements. To help firms and their insurers implement this change, the SRA have made transitional rules. The effect of which are that SRA authorised firms that have taken out and maintained PII in accordance with the current rules and minimum terms and conditions will deem to be compliant with the equivalent requirements in the new rules, until their policies have ceased or been updated. All policies renewed/incepted prior to this date do not therefore need to be reissued at 25th November.