Insurance law specialist Weightmans has published its top ten tips to ensure solicitors get the best cover when renewing their professional indemnity (PI) insurance.
Head of professional indemnity at Weightmans, Frank Maher, said solicitors needed to: raise awareness throughout the firm of the need to notify circumstances giving rise to claims
ensure the proposal form was completed correctly
only use brokers with experience in the solicitor market
make sure the cover was in place by September 1
check the terms of the policy carefully
err on the safe side when deciding on the amount of cover
check the insurer was committed to the market in the long term
make sure they knew the work history of their staff
look at enhancing their risk management measures
check what claims handling service the insurer is using and appoint one member of their staff to deal with both claims and renewals.