The object is to have legal practitioners covered by indemnity insurance taken out by their law practice to cover the whole of the law practice and its practitioners exempted from being required to obtain professional indemnity cover in another jurisdiction notwithstanding the practitioners may seek and be granted a practising certificates in that other jurisdiction. Professional indemnity insurance the legal profession uniform law nsw requires solicitors to hold or be covered by an approved insurance policy for nsw before they engage in legal practice in nsw similar provisions apply to an incorporated legal practice. Solicitors professional indemnity insurance covers claims made against you by a client or third party that alleges negligence a breach of trust or confidentiality or defamation the policy covers the cost of any damages awarded claimants costs and the costs of defending the claim is solicitors professional indemnity insurance a legal . It is important for practitioners to understand that the nature of professional indemnity insurance is different to that of road traffic insurance employer liability insurance or public liability insurance in the case of professional indemnity insurance the relevant cover is the cover that pertains on the date the claim is first made or the insured first becomes aware of a circumstance likely to give rise to a claim and notifies his insurer and not the date of negligence. Professional indemnity insurance for law firms with 2 3 partners as professional indemnity insurance pii becomes a more challenging market our advice to firms is to engage early with a specialist broker our longstanding scheme with amtrust offers a rated cover for law firms
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