For many people in the legal profession, building connections with their suppliers and clients face to face is critical. Although many insurance firms have incredible digital and online experiences, in our opinion, nothing beats a bit of face-to-face time, where we can get to know how a legal firm operates and recommend professional indemnity insurance policies that will protect their practice in case of a claim for malpractice or negligence.
In this blog, we talk about common questions our clients ask us when we go to meet them at their firms and why the personal touch goes a long way.
1. Find out what experience they have with Professional Indemnity insurance
It’s important to understand your broker's expertise in the legal sector. Experienced brokers will be able to talk to you about the common risks and challenges that solicitors face and can recommend the right level of cover based on your law firm’s specific needs.
How the broker answers your questions is a true indicator of their level of expertise in the field. Many brokers have a basic knowledge of many sectors, but it’s important to work with an expert if you are serious about protecting your law firm from any negligence, breach of contract or defamation cases. At Eggar Forrester, our PI expert is Jamie Underwood, who recently received a glowing review from Paul Britton at Britton & Time.
Jamie took the time to thoroughly understand our business needs and tailored the coverage accordingly. He dealt with the complexities of the market with ease, providing us with clear and concise advice throughout the process. What truly stood out was his ability to secure a policy that not only met our exact requirements but also saved us a substantial five-figure sum.
2. How can a broker assess the risks for my legal practice?
Every legal practice is different, and a face-to-face meeting is a great way to delve into the specifics of your firm and the level of cover you need. When we meet our clients, we ask a TON of questions about your area of specialty, your client base and how your firm operates.
3. What does all the insurance jargon mean? Your broker can explain all the terms, conditions and exclusions in detail.
Even as legal professionals, you might sometimes find the insurance jargon a bit confusing. Your broker will help you to understand the policy language, so that you’ve got total confidence that you’ve bought the right policy for your legal firm. And we think the best way to go over the coverage scope, limitations and exclusions is in person, ideally with a nice coffee in hand (and even a biscuit). The last thing we want is for any clients to have a nasty shock that they haven’t got the right level of coverage should they need to make a claim, so we think that this is time very well spent.
4. How does your broker stay up to date with the changes in the legal-insurance market?
As with any sector, the legal landscape changes constantly, which then impacts the conditions in the insurance market. As a team, we monitor the regulatory changes, industry trends and emerging risks, helping you to adjust your coverage as necessary. It’s important to choose a broker who monitors the market to ensure you have the right level of coverage for your legal firm.
5. How does the insurance broker manage the claims process?
As a broker, Eggar Forrester has an in-house claims team. You’ll deal with the same people from start to finish and we handle our claims quickly and efficiently, keeping you up to date along the way. We know that making an insurance claim can be a very stressful process, so we make sure our clients are supported with all the documentation needed to make a successful claim.
6. Will a broker advise me on any additional cover that I need to protect my legal firm?
Having fully assessed the risks of your legal firm, your insurance broker can advise you on any additional cover that might be beneficial to your practice. Many of our legal clients have cyber security insurance and Directors & Officers insurance. By undertaking a comprehensive risk assessment, we can advise you on the best policies to protect your legal firm.
If you’d like to find out more about Eggar Forrester Insurance and how we can support your legal firm with Professional Indemnity Insurance, please connect with Jamie Underwood jamie.underwood@eggarforrester.com
For more information about Eggar Forrester’s Professional Indemnity insurance services, visit Professional Indemnity Insurance Services | Eggar Forrester Insurance.