SLC announces strong interest in alternative PI Policy
New policy for Licensed Conveyancers available for 2015/2016 renewal
The Society of Licensed Conveyancers (SLC) said today that R K Harrison Insurance Services Limited (RKH) has already received over 35 proposal forms for premium quotes under the Society of Licensed Conveyancers Policy Scheme for Professional Indemnity insurance.
The Scheme, which carries exactly the same coverage as the existing PI Master Policy for Licensed Conveyancers, is provided by Lloyds of London insurers. The Scheme is open to all Licensed Conveyancer firms, whether SLC members or not. Firms are encouraged to submit their 2015 proposal form (that which has been/is being submitted to the Master Policy providers will be acceptable) and any up to date claims information to [email protected].
Quotations by RKH show two premiums, the full premium and a discounted premium for firms where all their Licensed Conveyancers are members of SLC. Quotes are being turned around in just a few days and are understood to be very competitive. Once a firm has a quote and wishes to move to the next stage in the process they need to obtain an Alternative PII Application Form from the Council for Licensed Conveyancers (CLC) for their approval. These forms can be obtained from [email protected] and provided the completed forms and supporting documentation are received by 16th June 2015, the CLC will make their approval determination by 30th June 2015.
Simon Law, SLC Chairman said: “We are delighted that both members and the wider Licensed Conveyancer community are taking advantage of this new PI Insurance policy where it makes sense to do so. We believe that the introduction of the Society’s scheme will ensure that Licensed Conveyancers are getting the best possible deal to meet their PI needs.”
Any firm who would like further information about the scheme is invited to e-mail [email protected] or call 08714 237193.