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Professional indemnity Insurance

To obtain a no obligation quotation, all you need to do is send us your current or previous years’ proposal form to nikki@thestrategicpartner.co.uk.

Alternatively, to arrange a meeting or to find out more information on how we can assist your firm, call 0207 842 1830 or fill out our enquiry form and we will be in touch.

We have partnered with leading Insurance Professionals to provide your law firm Insurance based products. Due to our connection into the legal industry our Partner Insurers are specialists in Professional Indemnity Insurance but we can also deliver an extensive range of insurance products for Law Firms.

If you take out professional indemnity insurance from one of our insurance partners, you will receive funded membership, business consultancy services and a digital marketing review. (click here for more information)

To make an enquiry about indemnity insurances/any of the insurance products or to organise a quotation, call a member of our Insurance team on 0207 842 1830.

i. Professional Indemnity

Our Partners offer A rated professional indemnity solution, backed by Lloyd's of London providing bespoke packages to meet the varying demands and requirements of Law Firms.

Despite being a mandatory insurance for all Law Firms the products and service provides access to a market leading underwriting team who will work alongside your Firm to understand your requirements and deliver a competitively priced product which provides the cover you need. Our Partners will work with you through the indemnity year to help identify areas of risk and where possible reduce these to improve your rating position.

The products are available to Firms of all sizes.

ii. Cyber

Cybercrime & Data Protection products offer indemnity and assistance to law firms following a cyber incident. As part of the products, we have access to a breach response team, as standard, to ensure that experts are there to coach you and offer guidance to ensure compliance with all notification and regulatory requirements.

Cybercrime is not new; the first cyber attack was reported over 20 years ago. However, it is still perceived as an emerging risk. Emerging Risk Definition by Lloyd’s of London: “An issue that is perceived to be potentially significant but which may not be fully understood”. Technology is ever evolving and so are the risks associated with its use. The Government has listed cybercrime as a top tier risk to our national security but we should not think that this issue only affects large institutions. Our law firms and other business and financial sectors are increasingly falling victim to it. The estimated cost of cybercrime to the UK is £27 billion per year. About £21 billion of that is attributed to UK businesses. Much of this crime goes unreported so the cost is likely to be much higher.

iii. Partner and Practice Protection

This insurance includes:-

Directors and officers (D&O) Liability - provides protection for the individual partners, directors, members, the appointed COLP and COFA and senior staff for claims brought against them in relation to actual or alleged breaches of duty. The costs of investigating and defending claims brought against the individual are also included. Entity Cover - provides protection for claims brought against the practice, including but not limited to regulatory investigations and breach of contract. The costs of investigating and defending claims brought against the practice are also included.

Commercial Crime - provides first party cover for losses arising as a result of employee and third party dishonesty, including fraud.

iv. Partnership Protection

This cover provides financial security, business stability and continuity following the death of an equity partner. Partnership Protection will provide, on the death of a partner, the money to buy their share of the partnership. This works by the partnership purchasing life insurance policies on each partner and being the beneficiary on each policy. We will advise you on the best arrangement for your partnership, and assist you in the drafting of any such agreement.

v. Employee Benefits

Group Life Insurance pays out a tax free lump sum if one of your employees dies whilst employed by your company. The policy gives your practice peace of mind, in knowing that the death of your employee will not result in financial hardship for loved ones. The benefit payment is offered on a multiple of salary or a fixed benefit amount basis, or a mixture of cover types within your firm. The level of cover can vary by seniority within an organisation and also across industry.

vi. Key Person Insurance

This Insurance is life insurance taken on the key person or persons in a business. It protects a company in the event that one of the people who are important to the business’s operations should die.

vii. Business Travel Insurance

This insurance provides a bespoke policy for the owners and staff of a law firm when travelling on business in the UK or Abroad.

vii. Locum Insurance, Group Personal Accident and Illness Cover

This insurance is designed to provide cover for law firms in the event of an accident or illness that temporarily prevents staff from attending their usual business or occupation. It pays for either the cost of employing a locum to replace the Insured Person due to an accident or illness, or 100% of the Insured Persons gross weekly wage, whichever is the lesser.

Let's talk about how we can help

Get in touch - call us on 0207 842 1830 or complete the form.
Tell us what you need or ask us a question, we'd love to discuss your business.

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