Legal & Professional Insurance, a professional indemnity specialist for the legal profession, has entered into an agreement with Marsh, to provide professional indemnity insurance, initially for the 2011/2012 year, for law firms with two and three partners. All firms in this category applying through the Legal & Professional Insurance website www.lpinsure.co.uk will be able to download a Marsh quotation form for completion.
Legal & Professional Insurance entered the solicitors’ professional indemnity market in 2010 with its individual rating and modeling system, which simplifies the process of predicting claims experience and provides an individual ‘risk price’ for firms, reflecting competence and good practice. The company’s origins go back to the Solicitors Indemnity Fund (SIF), set up by the Law Society to provide compulsory indemnity insurance to the profession and disbanded in 2000 in favor of the current open market. Run-off claims were subsequently handled by SIF, more recently through its subsidiary specialist company, LP Claims, now part of Legal & Professional Insurance. Legal & Professional Insurance is a trading arm of Vision Underwriting Limited, a wholly-owned subsidiary of Liberty Mutual Insurance Europe Limited (LMIE) and a member company of Liberty Mutual Group.
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