Solicitors professional indemnity insurance

Exclusive Primary £10m Solicitors' PII Facility for 11+ Partner law firms

A fresh take on risk management and insurance

Miller is delighted to announce a new exclusive primary Professional Indemnity Insurance (PII) facility for 11+ Partner* law firms; the first in many years.

A risk-based approach sets the facility apart from all other schemes in the market and allows firms to undertake a meaningful exercise to identify how their processes compare to best practice. This provides an invaluable insight from both the law firms’ and insurers’ perspective.

The facility is backed by market leading ‘A’ rated insurers, who are truly invested in insuring the profession in the long-term. They believe that with the right risk and compliance framework, all firms can work effectively and reduce their exposure to claims, making them an ideal firm to insure.

*Includes partners, directors and members

What’s included under Miller’s PII facility?

A primary PII limit of £10m any one claim
Enhanced policy wordings, which include difficult risks to cover in the current market such as regulatory defence costs, overseas offices and responsible persons threshold of claims awareness
Cyber, Directors’ and Officers’, and Office Insurance**
Favourable insurance finance rates
Commitment to rate stability
A personal and direct service via a tri-partite relationship between you, your insurers and Miller
Consistent and proactive claims handling
A risk management portal, templates and educational content
One-to-one engagement, risk management visits and bespoke training
Best practice advice and guidance

**Eligibility checks apply

Traffic light risk assessment - a new way of evaluating your risks

Law firms who successfully identify and put in place controls to mitigate their current and future risks are more attractive to insurers and ultimately achieve more favourable terms. As part of our facility, Miller will undertake a strategic risk management assessment of your firm using our traffic light system, designed by our in-house legal risk management expert, Nicola Anthony.

Irrespective of the result, we will explain your scoring and create a bespoke risk management strategy to assist in improving your risk.

How does it work?

The risk assessment examines your firm’s processes, controls and systems to assess how risk is managed and provides an overall score reflecting how well your firm is doing against best practice and industry standard.

Each score is then ranked against the following traffic light system:

	The risk and compliance processes of the assessed law firm is insufficient and immediate remedial work is required before insurers will consider providing terms.
	The assesses law firm has some risk management procedures in place, however there are some minor areas of improvement to make. Insurers will likely require further information or evidence before deciding to offer terms.
	The assessed law firm has a robust risk and compliance management process in place. Insurers will view this firm as a good risk to take and so will provide terms.