Lower Professional Indemnity Insurance Premiums Guaranteed?

January 2012

It's always been difficult to establish exactly what effect Lexcel accreditation has on professional indemnity insurance premiums as insurers are, naturally, cagey about it.

Now, according to the Law Society's Lexcel office, they have "established a facility for Lexcel accredited firms to reduce the cost of professional indemnity insurance".

Brokers and partners in the scheme, Hera Indemnity, are slightly less definite about absolute reductions, but do promise that "firms who apply to the facility will receive extremely competitive quotations from a panel of quality insurers who believe in risk management as the key to reducing claims and recognise the importance of accreditation".

Evidently everything will be in place in time for this year's PI renewal, and application forms are already available online from the Hera Indemnity website. For more details, go to www.heraindemnity.co.uk/lexcel/index.php.

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