Willis Towers Watson, in an exclusive partnership with AXIS, has launched a new professional indemnity (PI) insurance solution with a £10 million primary limit for 11+ partner law firms.
This provides law firms with cover that is not widely available in the market. The cover extends far beyond that outlined under the SRA Minimum Terms and Conditions, in a move indicative of the team’s desire to go beyond minimum standards and provide all-inclusive, comprehensive cover for clients.
Many law firms provide additional business services outside of legal work so having a PI insurance product which has additional flexibility to cover all aspects of the firm’s business will help our legal clients to continue to grow.
Kevin Hood, Executive Director at Willis Towers Watson, said: “With increased regulatory scrutiny we are delighted to partner with Axis to offer broader coverage and a consistent approach to claims handling through our exclusive partnership. Having a £10 million limit ensures our clients get more comprehensive cover, above and beyond that provided by the SRA’s minimum terms and conditions.”
“We are already seeing immense interest in this bespoke solution, and the market feedback is that this broader coverage was a necessary move.”
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Neil Ross, Head of PI Insurance at AXIS, said: “We are delighted to partner with Willis Towers Watson to deliver a solution providing law firms with over ten partners broader coverage and enhanced policy wording. This is supported by a superior and consistent claims service.”