Approximately a third of law firms in England & Wales renew their insurance on 1 April 2024.
We have advised many firms on coverage issues arising from inadequate disclosure in the proposal form. Many firms simply check with partners for details of notifiable circumstances and claims, yet many proposal forms contain warranties that the proposer has sought confirmation from all employees, and this includes support staff.
This and a variety of other hotspots, including aggregation, policy limits, and claims outside the course of practice, were covered in a recent article by Legal Risk partner Frank Maher, Mind (the SRA) insurance gaps (New Law Journal, 2024, 174(8054), 7).
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