But surely my PII will cover me?
Law Firms have been surprised to learn that Professional Indemnity policies do not provide for the costs of regulatory investigations where these are unconnected with a negligence claim or circumstance.
The Law Society Gazette article (26 June 2017) regarding the position faced recently by Leigh Day highlighted the limitations of PII cover for Law firms and the importance of having separate Management Liability (aka Directors & Officers Liability) protection in place.
Without this separate insurance the firm and its principals would have faced financial calamity.
The Summer 2017 edition of ‘solicitors@risk’ contained the attached helpful reminder, pointing out that one possible solution lies in Zurich’s ‘Executive Risks Solution’ Policy for Solicitors. Cover is broad in scope and pricing is reasonable.
For advice, help or quotations please contact Gary Horswell or Jennifer Knight @ Ntegrity Professional Insurance on 01454 800 800.
Article reproduced by kind permission of Zurich Insurance.