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Professional Indemnity Insurance

The CLC runs a Participating Insurers Agreement and CLC-regulated firms can seek cover from any insurer that is part of that scheme. This arrangement was put in place in June 2016.

Among other things, it sets out a minimum level of cover of £2m for each and every claim.

It also ensures six years of run-off cover at no additional cost when a firm closes, with cover of £2m in aggregate. 

 

Details of Insurers

The CLC encourages firms to seek quotes from more than one insurer. Click on the names to find out more about each scheme. 

Howden CLC Scheme   

JLT CLC Scheme    

Willis CLC Scheme

 

Background documents

Below you can read and download the relevant policies and documents. 

CLC Professional Indemnity Insurance Terms (effective 1st July 2016)

Participating Insurers Agreement (sample agreement)

CLC Professional Indemnity Insurance Code and Guidance

CLC Professional Indemnity Insurance Framework

 

Firm's views of the PII renewal round in 2017 

According to this year’s survey of the profession following the PII renewal round, more firms secured quotations from two or more insurers than last year (62%, up from 51% in 2016).

Satisfaction levels with the process remained at broadly the same high levels and there were suggestions for further improvement of the process.

We will use the findings of the survey to improve our work with the profession and insurers to protect the consumer.

Read the full survey findings from the 2017 renewal round 

Read the report on the 2016 renewal round