Insurance requirements

Question 1

What insurance is a firm regulated by the SRA required to have?

Answer 1

Must be covered to a minimum of 3million for any one claim + adequate and appropriate insurance based on their (i) client profile (ii) the value of matters taken one each year (iii) historical claims experience of the firm

Question 2

What insurance must freelance solicitors have?

Answer 2

None, if not carrying out a reserved legal activity.

Otherwise, adequate and appropriate insurance

Question 3

What insurance do Solicitors who work for charities have to have?

Answer 3

Have to ensure that the organisation has adequate and appropriate insurace