We look at Professional Indemnity Insurance requirements for Solicitors’ in our Cover Overview. It is imperative that solicitors and law firms recognise emerging professional indemnity risks and do everything in their power to protect themselves from those risks.
Additionally, following regulatory changes from 25th November 2019, within England and Wales there is now a distinct type of solicitor, the ‘Freelance Solicitor’. These are self-employed solicitors who practice on their own, practice in their own name, are engaged directly by clients with fees payable directly to them, and who do not have to be authorised if only providing non-reserved legal services. Freelance solicitors are not bound by the SRA minimum terms policy cover and can arrange adequate and appropriate insurance, when this is mandated or required, via other products.
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