The Law Society has published its list of insurers and brokers who are accepting the PII composite form.
The Society believes that a common proposal form will make life easier for its members during the PII renewal period. If further industry support for this is gained, solicitors will not have to fill out multiple forms.
The insurance industry is yet to unanimously sign up to a common form approach, but the Law Society has secured support for its composite proposal form amongst some of the major names providing PII coverage to solicitors.
As of 27 June, brokers and insurers accepting the form:
Brokers: Aon*, Bar Professions, Giles Insurance*, Hera Indemnity, Howden*, Marsh*, Prime Professions, QPI Legal*, Wesleyan, Windsor
Insurers/underwriting MGAs: APRO Management, Chartis, First Title*, Hannover*, Indemnity Risk Solutions*, Liberty**, Monitor Insurance*, RSA Insurance (not accepting new business), W.R. Berkley*
* Application may require supplementary questions
** Will only provide indicative quote – firms must complete provider’s form for final quotation
The list will be updated on the Law Society website regularly.
Solicitors are urged to ask their broker and insurer if they accept the new form when looking for PII cover. The Society believes that the power of the profession is strong when it adopts a common theme and works to achieve it, pointing to the recent agreement with the HSBC on its lender panel as an example.
The Law Society’s Composite Proposal Form can be downloaded here.
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