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Solicitors' PII Market Report - January 2025

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In our last report, we reported an improving outlook for those renewing their solicitors' professional indemnity insurance (PII). Our latest report continues to deliver positive news with further increases in capacity and appetite across the board from insurers during the 1 October 2024 renewal season, with both brokers and insurers alike keen to win new business. 

We like to ensure you are kept informed of current activity across the solicitors' PII market and we do just that in our latest Market Report.

To begin with, we share our experience of PII renewals up to 1 October 2024. For those of you renewing this year, we provide our forecast for what you can expect in 2025 along with helpful tips to ensure the process goes smoothly for you. 

One morning the SRA comes knocking and announces they are investigating your firm. Does your policy cover the costs of instructing a law firm to represent you? This is not a straightforward question to answer. We outline the key areas to consider.

Client care and retainer letters are areas which can trip up even the most diligent solicitor, particularly when dealing with a long-standing client. We consider the potential pitfalls you need to look out for. And, finally, we also provide guidance on how best to handle the challenging situation of when you think you have been negligent whilst acting for a client. 

The service from our account handler at Howden has been exemplary. Their knowledge and guidance every year makes the whole PII renewal process completely stress free." Hywel Green, Chief Operating Officer, Gomer Williams & Co Ltd
Solicitors' PII market report Jan 2025 - ripples

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Michael Blüthner Speight

Michael Blüthner Speight MA (Oxon), Solicitor

Divisional Director, Legal Practices Group