FAQs
FAQs for Solicitors
SRA compliance, claims, and cover limits explained.
Professional Indemnity Insurance (PII) protects businesses and individuals who provide advice, consultancy, or professional services from claims of negligence, mistakes, or omissions.
For solicitors in the UK, PII is mandatory and must meet strict criteria set by the Solicitors Regulation Authority (SRA).
Yes – All solicitors must have SRA-compliant PII in place to practise.
It’s required to:
- Be authorised by the SRA
- Handle client funds or provide legal advice
- Operate as a sole practitioner, LLP, or law firm
- Negligent legal advice
- Errors in contracts or documents
- Missed deadlines or court dates
- Breach of confidentiality
- Loss of client documents
- Defamation and dishonesty of employees
Most policies include legal defence costs, regardless of whether the solicitor is found liable.
The SRA requires:
- £2 million minimum limit for partnerships or firms
- £3 million minimum limit for incorporated law firms (LLPs or Ltd)
Policies must come from an insurer part of the SRA Participating Insurers Agreement, and include run-off cover in the event of closure.
Premiums depend on:
- Firm size and turnover
- Practice areas (e.g. conveyancing is higher risk)
- Claims history
- Risk management procedures in place
Example:
A small firm doing general practice might pay £2,000–£5,000/year, while high-risk or larger firms may pay significantly more.
Run-off cover is mandatory when a solicitor or firm ceases trading — it ensures cover for claims made after closure for past work.
Firms must hold run-off cover for 6 years minimum, and pay for it upfront (typically 2-3x the annual premium).
Reach out to us
If you have any questions or need further assistance with any of our insurance products please use the form and reach out to us.
One of your team members will be back in touch shortly after.