Insurance (PII)

Access Professional Indemnity Insurance (PII) forms and other resources for the indemnity period 2015/2016 in this section. Forms and information for 2016/2017 are also being added as they become available.

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.

PII Forms & Resources

Click on the links below for the latest PII forms, news and resources:

Run-off Cover

For information on run-off cover, including the Run-off Fund, the Special Purpose Fund Manager and Run-off Fund Guidelines, see the Run-off cover section.

Information regarding the 2016/2017 indemnity period will be added shortly.

Guide to Renewal 

The 2016/2017 Guide to Renewal includes tips for renewal, information on changes to the PII terms for the 2016/2017 indemnity period and a guide to insurers and brokers.

For the 2015/2016 Guide to Renewal, see Other PII Resources.

Resources applicable to previous periods

Information for previous indemnity periods can be found under Other PII Resources.

Current PII Regulations & minimum terms and conditions

Common Proposal Form 

The editable Common Proposal Form for 2016/2017 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.

Current indemnity period (2016/2017)

Use this form to apply for any insurance that will commence after 1 December 2016 (the 2016/2017 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. 

Insurers

A list of participating insurers for the 2016/2017 indemnity period is now available: 

For a list of insurers for 2015/2016, see Other PII Resources.

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 2016/2017 indemnity period. 

Rating of Insurers

See the Society’s practice note of November 2014 on the financial rating of insurers

PIA and Special Purpose Fund

Access the Participating Insurers Agreement 2016/17 (PIA). Insurers are reminded that the PIA needs to be completed fully, signed and submitted in hard copy to the current SPF Manager (Triton) on or before close of business on 1 November 2016. The Society has no power to grant any extension of this deadline. As such, if the form is not submitted to Triton on or before 1 November 2016, you will not be permitted to act as a participating insurer in the market in 2016/2017.

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 Triton, 5 George’s Dock, IFSC, Dublin 1 - phone 01 790 9444, fax 01 790 9401 or email spf@triton-global.com.

Brokers

A list of brokers, who have expressed their willingness to arrange PII cover from the qualified insurers for the 2016/2017 indemnity period is available below:

Firms have a statutory obligation to ensure that their PII confirmation of cover is provided by their broker through the Society’s online confirmation of cover system on or before Tuesday 6 December 2016. Brokers can access this system, using their login and password, at www.lawsociety.ie/lawpii/.

If any broker has difficulty confirming cover, please contact Veronica Donnelly

For a list of 2015/16 brokers, see Other PII Resources.

Login for brokers

Brokers can log in to www.lawsociety.ie/lawpii/ with their username and password. If any broker has difficulty confirming cover, please contact Veronica Donnelly

Confirmation of Cover 

Confirmation of cover for 2016/2017 must be provided to the Law Society no later than close of business on Tuesday 6 December 2016. 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.

Brokers must furnish the Society with confirmation of cover on behalf of the firm via the Society’s website. Such confirmation must include your policy number, and confirmation of cover cannot be provided until the policy is actually in place.

It is noted that some firms who have confirmed PII cover to the Society during 2016 have a coverage period that extends past 30 November 2016. Such firms are still required to re-confirm cover for 2016/2017 with the Society by 6 December 2016.

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.

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 was established for the 2012/2013 indemnity period and continues in the 2016/2017 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: Triton, 5 George’s Dock, IFSC, Dublin 1

Phone: +353 1 790 9444

Fax: +353 1 790 9401

Emailspf@triton-global.com

PII Policy Documentation

Details of the ARP policy, ARP premium schedule, run-off policy, run-off rules and SPF Management Committee rules for 2016/2017 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.

More 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.

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 8707 or emailing piihelpline@lawsociety.ie and is available Monday to Friday, 10am to 4pm.

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