Professional indemnity essentials for law firms
PI insurance for law firms: Babbar Abbas, Senior Associate, PI Legal Services — FINEX GB
SPEAKER: So the SRA mandates that English and Welsh law firms purchase either 2 or 3 million pounds worth of PII cover, depending on their legal entity. Any limit above this is at the pure discretion of the law firm in question. So how much PII cover should a law firm carry? There is a very apparent risk here that firms may be under-insuring themselves. Conversely, there is a less obvious possibility that a firm may well be overinsured and paying for cover that is superfluous to requirements.