Choosing the right professional indemnity (PI) policy is one of the most important decisions a law firm can make. It protects your business and offers you peace of mind.
The insurance market can seem confusing, and even daunting, to many law firms: 77% of respondents to a recent survey of lawyers we commissioned said they struggle to understand the process of renewing their PI insurance. A further 66% said they want advice on understanding their PI policy and which is the best cover for them to buy.
At Miller, we recognise that every law firm’s needs are different and must be matched with the right insurer for their business. Yet we also understand that the breadth of options for professional indemnity insurance can be difficult and confusing. This is why we have produced a website www.miller-insurance.com/solicitors and a free guide to help you understand the process and to give you the essential information you need to make the right decisions.
Different from other brokers
Miller has over 30 years’ experience in advising and arranging PI insurance and is a market leader in all aspects of programme design and placement of Solicitors’ Professional Indemnity (PI) insurance.
We want to help you find the best deal at the most competitive price – that’s why we think it’s important to work with a wide range of professional indemnity insurers, instead of just one or two!
Miller’s enviable market reputation coupled with our specialist expertise means you benefit from our broad direct access to multiple ‘A’ rated insurers along with a number of exclusive insurance facilities with Axis, Liberty, and Sompo (Endurance)
Working in partnership
We’re here to help you at every step of the insurance process: from how to write the best proposal form to assisting you if you suffer a claim. We understand that it’s when you have a problem that you really need advice and support, which is why we won’t walk away from you when you need us most.
We’ve often found cover for law practices that faced imminent closure because they’ve been left without insurance.
Our experience, expertise and customer service are why over 1200 law firms rely on us.
Benchmarking your existing PI insurance quote
Solicitors have long been critical about the insurer application process to renew their PI insurance – and quite rightly so.
The process can be time consuming, so it’s no wonder that many firms regularly accept an early renewal offer provided by their existing insurer – without having to complete a new proposal form.
Whilst there are some advantages to renewing your Professional Indemnity Insurance cover early, many firms may benefit from benchmarking their premium and excess rates against the current competitive insurance market conditions.
Benchmarking gives you the information you need to satisfy yourself that the insurance terms being offered are acceptable, have been calculated using up-to-date and relevant information and that your broker has access to insurers and does not simply rely on a single exclusive arrangement.
By having all this information to hand, you will be able to make much more informed decisions.
Advice & guidance
Providing clarity on PI insurance – request a copy of our free guide to PI insurance
Looking to set-up your own firm – request a copy of our free guide to presenting your SRA submission
Cyber Liability Insurance – Why should you buy it?
Buyer beware in legal M&A – If you feel the urge to merge then make sure you do your homework.
T: +44 (0)20 7031 2741