London & European begins offering Professional Indemnity Insurance to solicitors

London & European, UK based property specialists, recently announced its intention to begin offering professional indemnity insurance for solicitor law firms.

This new business liability insurance offering comes less than a year and a half after L&E’s management finalised its buyout from the April Group, its the France based company of that it was formerly a subsidiary.

Parveen Kumari, London & European’s group sales manager, released a statement concerning the new professional liability insurance, stating that the company has an intimate understanding in regards to the functioning of law firms, having not only provided solicitors with varied insurance policies for two decades but also possessing experience with settling disputes and claims in regards to title insurance. ┬áKumari continued, stating that with the coming renewal season it will be very important to law firms to insurers properly in order to secure affordable coverage, and that L&E has the requisite knowledge to function in that capacity.

L&E knows how to demonstrate the tools law firms have at their disposal in regards to risk management, such as title insurance and legal indemnities, concluded Kumari, arguing that London & European is unique in this regard.

L&E attributed the difficulty in securing coverage to the point of having to resort to the Assigned Risk Pool to the recent withdrawal of several key insurers from the UK professional indemnity market, such as Hiscox and Quinn Insurance.  The number of firms having to rely on the ARP has doubled in number since 2009.

London & European’s chief executive, Christopher Taylor, also commented on the property specialists’ new PI insurance offering, stating that the target range for their new cover will be solicitors’ law firms that have between 4 and 14 partners, though he made it a point to say that L&I can scale its operations to handle the needs of larger law firms if required.

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