Posts Categorized: MLS Risk Update

Solicitors – The 2019 PII Renewal Season – Possible Changes, Are You Ahead Of The Game?

Posted by & filed under MLS Risk Update.

There has been much written in the past 12 months about changes in the UK professional indemnity market. Certain sectors of the UK professional indemnity market have been seeing increased premiums/variations in the cover insurers are prepared to provide. As you are all aware, all insurers participating in solicitors PII are required to provide cover […]

Disclosure of Your Professional Indemnity Insurance Details

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This month we consider a common request to ourselves as Professional Indemnity Insurance specialists, i.e. “should we disclose our Professional Indemnity details?” Our response is to exercise caution. Similarly, we are often asked by our clients whether they should provide a copy of their Professional Indemnity Insurance (PII) policy to other parties, such as customers, […]

Current Issues Impacting Solicitors Professional Liability Insurance

Posted by & filed under MLS Risk Update.

This month we briefly consider a number of current issues which might have an impact on a solicitor’s professional liability insurance programme. CBL Insurance Europe Those practices having placed their Professional Indemnity Insurance with the above will be aware by now through their Broker that rumours of financial difficulties have proved to be well-founded. The […]

NOW AVAILABLE: Intellectual Property (IP) Insurance

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Intellectual Property (IP) Insurance has for many years been prohibitively expensive for many businesses, whilst also occasionally complex to source. Members may have seen the announcement of the merger between Solicitor Assist and MFL Professional last month. We are pleased to announce that Solicitor Assist is able to offer an insurance solution which addresses the […]

MFL Professional Merges with Solicitor Assist

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As many members will be aware, MFL Professional has acted in partnership with Manchester Law Society as its long-term, exclusively endorsed insurance broker providing insurance products and risk management services to members. We are now pleased to announce that from this year, following a recent merger, MFL Professional will be introducing its trading style, Solicitor […]

PI Insurance — Ground Rents: Impact on Conveyancing Firms?

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Whilst at the time of going to press we await the outcome of the Government Consultation (‘Tackling Unfair Practice In The Leasehold Market’) into unfair leasehold practices, ahead of that we consider here what a Conveyancing Practice might do, and the information likely to be required, so as to satisfy their Insurers at their 2018 […]

Solicitors Professional Indemnity Insurance: Important Considerations

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In this month’s issue, we are focusing on a couple of issues; firstly we will revisit the options and implications of run-off Professional Indemnity Insurance and secondly, touch on the subject of Qualifying Insurers’ financial rating. Run-Off Insurance Members should be aware that, in the event of your ceasing to practice, you have a regulatory […]

New Entrants In The Professional Indemnity Insurance Market: Helping Members?

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As many firms will by now have completed their 2017 renewal exercise, it is clear the pattern has pretty much followed the last couple of years with a further softening of the market, driven in part by many of the long-established players looking to maintain their own book of Insured practices and by the arrival of new entrants to the market. […]