Posted by Marc Rowson , a partner at Legal Futures Associate Lockton
When you’re applying for professional indemnity insurance (PII), or renewing your policy, the proposal form plays a key role in helping insurers to assess the risks associated with your practice.
Market conditions continue to improve, so whilst there may be less scrutiny on firms, a detailed and thorough proposal form can help to reduce premiums even further.
For solicitors, the proposal form is more than a paperwork exercise. It’s an opportunity to give insurers clarity and detail about your business operations, claims history and other relevant details.
These are eight key tips to set you on your way:
1. Get your facts straight
Before you get to the form itself, first gather all the necessary information about you