Around 30% of legal practices are yet to complete a professional...
Around 30% of legal practices are yet to complete a professional indemnity (PI) renewal form despite having had an extra month to do so, according to Alexander Forbes Professions (AFP).
AFP executive director Trevor Moss said: "The extension of the season from 31 August to 30 September has probably left a lot of firms feeling they have a surplus of time to complete their proposal. However, clashes with the holiday season and internal delays in gathering all the necessary information to thoroughly complete the renewal form have left many firms with incomplete proposals and only three weeks left to lodge them."
Moss added that firms yet to complete their forms ran the risk of submitting a “haphazard” proposal, which could lead to an increase in the cost of their premium or result in the firm being uninsured.
