19 January 2022
The Council for Licensed Conveyancers (CLC) has launched a consultation on possible changes to professional indemnity insurance cover for conveyancers and probate lawyers
Currently, an open market scheme based on minimum terms and conditions (MTC) is used. The CLC proposes reviewing certain areas, including the integrated run-off provided by the MTC, the approach to excesses set by insurers and whether standalone cyber insurance should be mandatory.
CLC chief executive Sheila Kumar said issues with cover renewal have arisen due to market pressures over recent years. View the consultation here. Responses should be sent by 25 February to consultations@clc-uk.org.
