Click on the links below for PII news and resources:
PII News
- Special Purpose Fund ("SPF") Manager
The SPF Manager is Capita Commercial Insurance Services - they are responsible for managing the Assigned Risks Pool and the new Run-off Fund. The SPF Manager can be contacted by phone on 0044-207-397-4539 or email spf@capita.co.uk.
- Chartis Europe Limited will change its name to AIG Europe Limited on 3rd December, 2012. Chartis state that the legal entity changes will not affect any terms and conditions in their clients' insurance policies or their ability to claim, and will not impact on their operation management structure in Ireland.
- Succeeding Practices - view article here.
- Disclosure of financial rating by qualified insurers - please see the Law Society eBulletin of 5th November, 2012.
Guide to Renewal
The Guide to Renewal provides tips for renewal, information on changes to the PII terms for the 2012/2013 indemnity period, guidelines for completing the common proposal form (see link below) and a guide to insurers and brokers.
Current PII Regulations
The current statutory instrument regarding professional indemnity insurance, the Solicitors Acts 1954 to 2008 (Professional Indemnity Insurance) Regulations 2011, and the Solicitors Acts 1954 to 2011 (Professional Indemnity Insurance)(Amendment) Regulations 2012. The current minimum terms and conditions can be found in the 2011 Regulations. Click on the links below to download the regulations:
Common Proposal Form
The Common Proposal Form for 2012/13 can be downloaded below - it is a large file so it may take a few moments to open. A supplementary claim form and Financial Services Questionnaire are also available to download below.
Please Note: A certificate of good standing is not required to be included with the common proposal form as part of your PII application.
Insurers
The list of qualified insurers and Qualified Insurers Agreement for 2012/2013 can be downloaded below.
It should be noted that the minimum level of participation in the Special Purpose Fund for any insurer who signs the Qualified Insurers Agreement will be 1%.
Brokers
The following brokers have expressed their willingness to arrange PII cover from the qualified insurers for the 2012/2013 indemnity period. Please note that a guide to insurers and brokers is available in the Guide to Renewal.
Confirmation of Cover
All confirmation of cover must be provided online by insurers and brokers. If you have any difficulty with the system, please contact the Society at piihelpline@lawsociety.ie.
PII Policy Documentation
The PII policy documentation for 2012/2013, which includes the ARP policy, ARP premium schedule, run-off policy, run-off rules and SPF Management Committee rules will be available on the Society's website in early December, 2012.
More information
For more PII information including statutory instruments, Society eBulletins, a list of Risk Management Consultants and information on previous indemnity periods, see Other PII Resources.
PII Helpline for Solicitors
The Law Society operates a helpline to assist firms in dealing with the professional indemnity insurance queries. The helpline can be contacted by phoning 01 879 8790 or emailing piihelpline@lawsociety.ie and is available Monday to Friday.
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