By Ashish Sareen (June 27, 2022, 7:25 p.m. BST) – A London-based insurance broker launched a new professional indemnity offer on Monday as law firms bear the cost of rising premiums and Lawyers are increasingly faced with the risk of negligence claims.
Miller Insurance Services LLP said it has put in place professional liability insurance with a limit of £10 million ($12.3 million) for law firms with more than 10 partners, directors and members.
The news comes as many major insurers are cutting their professional indemnity insurance due to the high risk of claims, contributing to the sharp rise in the price of guarantees.
The rising cost of professional indemnity insurance has devastated…
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