Insurance (PII)

Access Professional Indemnity Insurance (PII) forms and other resources for the indemnity period 2019/2020 in this section. Confirm PII through your broker by 1 December 2019.

PII Forms & Resources

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

News

PII Renewal 2019/2020 - updated September 2019

The PII renewal date for all firms is 1 December 2019, even if your firm has variable renewal dates (that is a coverage period other than 1 December to 30 November annually).

The Law Society will shortly be publishing other documentation for the PII renewal including the participating insurers agreement and Guide to Renewal.

Please note that the deadline for signing the participating insurers agreement is 1 November 2019, and a definitive list of participating insurers can therefore not be published until after that date.

Axis Specialty exiting PII market

Axis Specialty Europe SE has taken the decision not to continue as a participating insurer for Professional Indemnity Insurance (PII) after 30 November 2019:

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.

Run-off Cover

For information including the Run-off Fund and Run-off Fund Guidelines, see the Run-off cover section.

Guide to Renewal 

The Guide to Renewal includes tips for renewal, information on changes to the PII terms for the 2019/2020 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 documentation for 2018/2019 and for 2019/2020 can be downloaded below. These are large files so they may take a few moments to open. Firstly save the form to your computer before you complete the form.

Before 1 December

If you are applying for PII that will commence before 1 December 2019 (the 2018/2019 indemnity period), you should use the following form and guidance unless otherwise directed by your broker:

On/after 1 December

If you are applying for PII that will commence on or after 1 December 2019 (the 2019/2020 indemnity period), you should use the following forms and guidance, 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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Participating Insurers Agreement

Insurers are required to sign a participating insurers agreement in order to participate in the solicitors’ PII market.

The signed agreement is required to be received by the Special Purpose Fund Manager, DWF Claims (Ireland) Limited in hard and soft copy on or before close of business on 1 November 2019.

The Society has no power to grant any extension of this deadline. As such, if the form is not submitted to the Special Purpose Fund Manager on or before 1 November 2019, the insurer will not be permitted to act as a participating insurers in the market in 2019/2020. It should be noted that the minimum level of participation in the Special Purpose Fund 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.

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. 

Insurers

These insurers signed the Participating Insurers Agreement for the 2019/2020 indemnity period on or before the deadline date of 1 November 2019.

Lists of participating insurers for previous indemnity periods can be accessed under Other PII Resources.

Financial rating of insurers

The Society introduced a new requirement for all participating insurers for the 2018/2019 indemnity period increasing the required minimum financial strength rating of the insurer from BBB (S&P, Fitch or equivalent) to A (Fitch, S&P or equivalent). Insurers must meet and maintain the minimum financial strength rating to participate in the market. Information on the insurer’s financial rating should be provided with every quote.

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Brokers

The list of brokers who expressed their willingness to arrange PII cover from participating insurers for the 2019/2020 indemnity period is as follows:

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

Login for brokers

Go to  www.lawsociety.ie/lawpii/.

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

Confirmation of Cover 

Confirmation of cover for 2019/2020 must be provided to the Law Society (through the Society’s online confirmation of cover system) no later than close of business on Wednesday 4 December 2019. 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 2019 have a coverage period that extends past 30 November 2019 (variable renewal date). Such firms are still required to re-confirm cover for 2019/2020 with the Society by 4 December 2019.

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. Please note that cover must be provided through the Society’s online portal by your broker and will not be accepted in hard or soft copy. Firms are advised to ask your broker for a copy of the Society’s email confirmation to ensure that the broker has lodged cover through the Society’s online portal on or before close of business on 4 December 2019.

If any firm has a new coverage period commencing prior to 1 December 2019, you are required to ensure that your broker provides confirmation of cover through the Society’s online portal within 3 working days of the date of commencement of your cover, and re-confirms the cover through the Society’s online portal on or before 4 December 2019.

If your cover commences after 1 December 2019, you are required to ensure that your broker provides confirmation of cover through the online portal within 3 working days of the date of commencement of your cover.

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. 

See more information and contact details for the Fund Manager under Run-off Cover.

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PII

Special Purpose Fund Policy Documentation

Details of the ARP policy, ARP premium schedule, run-off policy, run-off rules and SPF Management Committee rules for 2019/2020 will be published later in 2019.

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 Indemnity periods

PII documentation, forms, statutory instruments, Risk Management Consultants and news items for indemnity periods prior to 2018/2019 can be accessed under 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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