With the renewal (for the majority of solicitors firms) nearly upon us, it is worth just having a look at a few top tips for firms involved in the residential conveyancing market.
Howden Windsor is one of the most respected expert brokerage for solicitors’ professional indemnity insurance so we are grateful that Steve Ray one of their Directors has set out 8 top tips for conveyancer solicitors in their renewal for our readers.
1. If you have enjoyed significant growth this year; explain how this has been achieved. Concentrate on explaining how you have resourced the additional case load and whether additional controls have been added.
2. Explain what Case Management Systems you have. How you receive updates from the CML and how these are updated on your systems and added to current instructions.
3. Explain your market. Is it local, repeat and recommendation business and to what extent this is price sensitive?
4. Who is in your team, how are you structured what are the experience levels (including Solicitor / fee earner ratios).
5. With any previous issues that you have had, which have resulted in a PII claim take the time to explain what happened and the steps you have taken to prevent recurrence.
6. If you are unable to answer a specific question on the proposal form in the affirmative but you have something similar in place be sure to explain what this is.
7. Complete your proposal form carefully ensuring that everything is legible.
8. What plans do you have for the future, how will these be realised and mention any additional systems or enhancements planned.
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