Insurance (PII)

Access Professional Indemnity Insurance (PII) forms and other resources for the indemnity period 2017/2018 in this section. Renew by 1 December 2017.

PII Forms & Resources

Click on the links below for 2017/2018 PII forms, news and resources:

News

Finance Scheme 2017/2018

The Society has partnered with Bank of Ireland to provide a finance facility for members who wish to finance payments for practice matters, such as professional indemnity insurance. See details of the scheme.

New insurer -  Catlin Underwriting Agencies Limited (Lloyd’s Syndicate 2088)

Catlin Underwriting Agencies Limited (Lloyd’s Syndicate 2088) have joined the solicitors' PII market as a new participating insurer. Catlin Underwriting are an 'A+ rated' insurer registered in the UK. They are interested in all firm types.

New insurer - CNA Hardy

CNA Hardy have joined the solicitors' PII market as a new participating insurer. CNA Hardy are an 'A rated' insurer registered in the UK. They are interested in SME firms, with all areas of work considered. They will accept applications from all brokers through Precision Underwriting. 

Notice for Elite Insurance policyholders

Elite Insurance Company Limited has announced that they will be ceasing writing new business effective 5 July 2017.

Please direct any queries to the Society’s PII Helpline at 01 879 8707 or email piihelpline@lawsociety.ie.

Insurance Status of Firm

Please note that information on the current professional indemnity insurance (“PII”) provider for each firm is available under Firm Insurance Details.

Previous Indemnity periods

Forms and information for 2016/2017 can be accessed under Other PII resources.

Run-off Cover

For information including the Run-off Fund, the Special Purpose Fund Manager and Run-off Fund Guidelines (2017/2018 indemnity period to be added shortly), see the Run-off cover section.

Guide to Renewal 

The 2017/2018 Guide to Renewal includes tips for renewal, information on changes to the PII terms for the 2017/2018 indemnity period and a guide to insurers and brokers.

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Current PII Regulations & minimum terms and conditions

Common Proposal Form 

The editable Common Proposal Form for 2017/2018 can be downloaded below - it is a large file so it may take a few moments to open. Please save it to your computer before you complete the form.

Use this form to apply for any insurance that will commence after 1 December 2017 (the 2017/2018 indemnity period), unless otherwise directed by your broker:

Please note: a certificate of good standing is not required to be included with the common proposal form as part of your PII application. 

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Insurers

For the 2017/2018 indemnity period, download a list of participating insurers.

Insurers are required to sign the Participating Insurers Agreement 2017/2018 (PIA) in order to participate in the 2017/2018 indemnity period. The signed agreement must be received by the Special Purpose Fund Manager (DWF Claims (Ireland) Limited) on or before close of business on 1 November 2017. The Society has no power to grant any extension of this deadline. As such, if the form is not submitted to DWF Claims (Ireland) Limited on or before 1 November 2017, you will not be permitted to act as a participating insurer in the market in 2017/2018. It should be noted that the minimum level of participation in the Special Purpose Fund (SPF) for any insurer who signs the Participating Insurers Agreement will be 1%.

Queries or applications to the SPF Manager should be directed to DWF Claims (Ireland) Limited, 5 George’s Dock, IFSC, Dublin 1 - phone 01 790 9444, fax 01 790 9401 or email SPF@dwfclaims.com.

PII quotes

All insurers are required to leave quotes to firms open for a period of not less than 10 working days. This requirement was introduced in the 2012/2013 indemnity period and remains in place for the 2017/2018 indemnity period. 

Financial rating of insurers

The Society has introduced a new requirement for all participating insurers for the 2017/2018 indemnity period requiring such insurers to have a minimum financial strength rating of BBB (S&P, Fitch), or equivalent, to participate in the market. Information on the insurer’s financial rating should be provided with every quote.

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Brokers

A list of brokers, who have expressed their willingness to arrange PII cover from the qualified insurers for the 2017/2018 indemnity period is now available:

For a list of brokers for previous indemnity periods, see Other PII Resources.

Login for brokers

For details of login access or other broker queries, see confirmation of cover below.

Confirmation of Cover 

Confirmation of cover for 2017/2018 must be provided to the Law Society (through the Society’s online confirmation of cover system) no later than close of business on Wednesday 6 December 2017. Brokers can access this system using their login and password at www.lawsociety.ie/lawpii/.

Such confirmation must include your policy number, and confirmation of cover cannot be provided until the policy is actually in place. It is the statutory responsibility of the solicitor firm to ensure that such confirmation of cover is provided to the Law Society in the required online form.

It is noted that some firms who have confirmed PII cover to the Society during 2017 have a coverage period that extends past 30 November 2017. Such firms are still required to re-confirm cover for 2017/2018 with the Society by 6 December 2017.

Please note that your firm will not be reflected as having PII in place on the Society’s “Find a Firm” online search facility until the Society has received the required online confirmation of cover, and the Law Society’s system has been updated.

If you have any queries, please email piihelpline@lawsociety.ie.

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Special Purpose Fund Manager (Assigned Risks Pool and Run-off Fund)

The Special Purpose Fund consists of the Assigned Risks Pool and the Run-off Fund. The Assigned Risks Pool is the insurer of last resort for solicitors unable to obtain cover in the market. The Run-off Fund provides run-off cover to eligible ceased firms. The Special Purpose Fund continues in the 2017/2018 indemnity period.

The Special Purpose Fund Manager has responsibility for managing both the Assigned Risks Pool and the Run-off Fund. However, each fund is a separate entity. The contact details of the Special Purpose Fund Manager are as follows:

Manager: DWF Claims (Ireland) Limited, 5 George’s Dock, IFSC, Dublin 1

Phone: +353 1 790 9444

Fax: +353 1 790 9401

EmailSPF@dwfclaims.com

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PII Policy Documentation

Details of the ARP policy, ARP premium schedule, run-off policy, run-off rules and SPF Management Committee rules for 2017/2018 will be published shortly.

Risk management

One of the main factors taken into account by insurers when considering the risk profile of a solicitor firm, and therefore whether the insurer is willing to insure a firm and the cost of that insurance, is the implementation and maintenance of risk management strategies and procedures to minimise the risk of an insurance claim against the firm.  

The Society's risk management guidance notes set out risk management policies and procedures that firms should consider implementing in order to reduce the firm’s risk profile and correspondence PII premium.

Previous periods and other PII information

For more PII information including statutory instruments, Society President's Bulletins, a list of Risk Management Consultants and information on previous indemnity periods, see Other PII Resources.

Helpline for Solicitors

The Law Society operates a PII helpline Monday to Friday, 10am to 4pm to assist firms in dealing with the professional indemnity insurance queries. The helpline can be contacted by phoning 01 879 8707 or emailing piihelpline@lawsociety.ie.

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