Professional Indemnity Insurance
What PII is, why it matters, and how to check your professional’s coverage.
Last reviewed
What Is Professional Indemnity Insurance?
Understanding PII
Professional Indemnity Insurance (PII) is a type of insurance intended to provide cover where a legal professional makes an error, gives negligent advice, or fails to perform the services they promised. If you suffer a financial loss because of such a mistake, you may be able to claim against their PII policy, although what any given policy covers depends on its own terms.
PII is separate from general business insurance. It specifically covers claims arising from professional negligence, errors, or omissions in the services provided.
Why It Matters
- Financial safety net: if an error in your will causes financial loss to your estate or beneficiaries, PII provides a mechanism for compensation
- Professional accountability: professionals who carry PII demonstrate commitment to standing behind their work
- Peace of mind: you know that recourse exists if something goes wrong
- Regulatory compliance: regulators and membership schemes typically set their own PII requirements, so a professional's cover may be a condition of their regulation or membership
Minimum Cover Requirements
Cover Levels by Professional Type
The minimum PII cover typically varies depending on the type of professional and their regulatory body. The figures below are indicative only and may change, so confirm the current requirement with the relevant regulator or a qualified professional:
- Solicitors (SRA-regulated): the SRA publishes minimum terms setting the cover a firm must hold, with a higher level required of partnerships and LLPs than of sole practitioners
- IPW members (will writers): the IPW Code of Practice sets a minimum cover level for its members
- STEP members: requirements vary; check with the individual professional
What does the cover amount mean?
The cover amount is typically the maximum the insurer will pay out for a single claim. Most will-writing claims are well below the usual minimums, which are set with complex estates in mind.
Checking Insurance Status
How to Verify Coverage
You can check a professional's insurance status in several ways:
- Professional profile: on Orchard72, a professional's regulatory body and qualifications are shown on their public profile. Their insurance details, including the policy type, insurer, cover per claim and aggregate cover, appear once you are signed in
- Engagement letter: the engagement letter should confirm that the professional carries PII and state the level of cover
- Ask directly: you have every right to ask your professional for their insurance certificate or policy details
- Regulatory body: for solicitors, check the SRA website; for IPW members, contact the IPW
No insurance? Proceed with caution
If a will writer does not carry professional indemnity insurance and is not a member of a recognised professional body, your options may be very limited if something goes wrong. We suggest choosing professionals who are properly insured, and speaking to a qualified professional if you are unsure.
Can’t find what you’re looking for?
Our support team is here to help. Contact us and we’ll get back to you as soon as possible.
Contact Support