Within the past ten years, the following Insurers of Solicitor firms have gone into liquidation;

  • Quinn
  • Balva
  • ERIC
  • Berliner
  • Elite
  • Lemma
  • Alpha
  • Enterprise

In addition, one current Solicitors Insurer has sold it’s book of client risks to another entity, and another is known to be up for sale.

Given the size of premiums handed over to Insurers, and the scale of protection that they afford firms and their senior managers, should you not be asking about your Insurers financial strength?

At QPI we readily provide information on financials and also our experience of the Insurers claims capability and that of its panel defence law firms who stand between our clients and their claimants.

It is the end product in the process of establishing Insurance protection, however by the time it is tested it is too late to change anything, if it doesn’t work as it should.

The SRA do not test the financial strength of any Insurer, instead requiring a minimum grade as set by the established ratings agencies. Certain current Insurers for example obtain their capacity from overseas entities. Some are MGA’s (managing general agencies) who underwrite using others capital, others are established, directly authorised Insurance companies. 

If you want to understand the quality, strength and track record of an Insurer or MGA talk to us at QPI.

QPI – quality, professionalism and Integrity.