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Solicitors 2011/2012

Solicitors', its that time of year again and specialist insurance brokers MFL Professional are ready.

Our hardworking, professioanal and customer-driven team is on hand throughout the working week with essential advice you require about PI insurance renewal 2011.

The Professional Indemnity Insurance market for legal firms has become extremely tough in the past couple of years and 2011 will be no exception. As a result the need for sound, specialist insurance advice has never been greater.

MFL Professional provides bespoke advice to legal firms around the arrangement of compliant Professional Indemnity Insurance. Our services include:-

·



Direct access to many of the UK's leading Solicitor's Professional Indemnity Insurers. Including the Ink Insurance facility for 2011.
· Direct negotiation and placement of cover.
· Advice around setting of appropriate Limits of Indemnity.
· Risk management advice.
· Merger and acquisition advice.
·  Successor Practice advice.
· 'Run Off' and retirement advice.
· Access to premium instalments.
· Start-up practice advice

Tips in advance of renewal 2011:

·

Start the renewal process early, no later than the end of June.

·

Be prepared to provide much more detailed information to insurers, including financial information about your practice.

·

There will be no advantageous late deals in 2011.

·

Insurers will be realigning their books of business, those practices most at risk are:

  • 1-3 partner practices;
  • Those with a poor claims record;
  • Those with substantial exposure to conveyancing.
·


It is vital that full disclosure is made, particularly with regard to any ongoing SRA investigations.

·

It is vital that practices can evidence their "Operational Compliance" procedures.

WITHOUT A DOUBT SOME PRACTICES WILL NOT BE OFFERED RENEWAL TERMS. THOSE PRACTICES HAVE TO INFORM THEIR ULTIMATE INSURER OF THE DECLINATURE

MFL CAN ADD VALAUE TO THE RENEWAL PROCESS WITH ONE-TO-ONE VISITS TO PRACTICES, TO ADVISE AND ASSIST THEM THROUGH THE PROCESS

 

 Click here to download the Solicitors PII Prop 2011

 

 


In addition, MFL operates a competitive Office Insurance scheme specifically tailored to legal firms. Specific benefits include:-

  • Full 'all risks' cover, including accidental damage and subsidence.
  • Full theft cover ie. no requirement to prove forcible entry or exit.
  • Computer breakdown.
  • Reinstatement of data.
  • Fidelity and dishonesty.
  • Loss of documents.
  • Commercial legal expenses.
  • Cover for properties in the course of conveyance available.

 


MFL would be delighted to conduct a no obligation review of your Professional Indemnity requirements.

Simply use the contact link should you wish to telephone or write to an MFL representative or alternatively we would be happy to call you at a convenient time to suit you, simply use our call back request form.

For MFL to provide a confirmed quotation we will require a completed proposal form and relevant information.

You can download a proposal form in your preferred format from the link below or alternatively provide us with a copy of your existing / recently completed renewal proposal form along with a copy of your policy schedule and current policy wording if available.

If any of your documents are available in electronic format they can be easily uploaded via this site using the submission upload feature.

Proposal Form Download

Format:

Solicitors PII Proposal Form 2011/12

 

Solicitors PII New Start-Up Proposal Form



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