Law Society runs SafetyNet PII scheme
The Law Society has revealed that it will again offer help for firms having difficulty in securing professional indemnity insurance.
The SafetyNet scheme will assist law firms trying to avoid entering the assigned risks pool or help those who want to leave it.
Managed by independent broker Prime Professions Ltd, firms will receive an initial free consultation to determine their risk profile and current insurance status.
For a fee agreed between the firm and broker, Prime will then conduct up an in-depth review and draw up a strategy to address any issues preventing a firm from securing insurance.
Law Society chief executive Desmond Hudson said: ‘We are committed to doing all we can to offer an opportunity to distressed legal practices to escape the ARP or avoid it.
‘We hope that this scheme will achieve this objective and help practices improve their risk profile for the future.’
The SafetyNet scheme was launched on 1 September and is being run alongside a PII helpline for solicitors that will offer assistance until early November.
Source: The Law Society Gazette
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