Legal indemnity claims levels reach record high
We’re well aware of the perception that claims on legal indemnity policies rarely occur, but that simply isn’t true.
Our in-house claims team is dealing with more cases than ever, and in the last 12 months alone, we have paid out over £2.5 million for claims made on our policies. In an increasingly litigious society, and with the majority of our covers being provided on an ‘in perpetuity’ basis, we believe that this upward trend is likely to continue.
So, in this issue of intouch, we’re devoting a number of articles specifically to the subject of claims. In The importance of being earnest, we talk about why arranging legal indemnity insurance must not be treated as a tick-box exercise, and we look at the reasons why it’s vital to choose the right policy from the right insurer for your clients, and what factors should be taken into consideration.
In the article entitled Challenging the perception, we’ve sought to dispute the belief that claims seldom happen, and have highlighted some of the wide ranging scenarios that we encounter. Elsewhere, you can read details of a recent case study, and we’ve also asked our Claims team to take over the ‘hot seat’ for our regular Ask the experts feature.