Published: Monday, 12 July 2021
"A freelance solicitor is a true sole trader, so you can’t operate through a limited company which makes insurance absolutely critical."
Jonathon Bray, 2021
You'll need insurance to protect your personal assets
What do you need?
While the SRA expects ‘appropriate’ insurance to be arranged, most Insurers feel that the guidance provided by the regulator leaves many questions unanswered.
The SRA guidance note focussed mostly on the amount of cover rather than the scope of the policy protection. The SRA Minimum Terms wording is the widest policy coverage available to professionals in the UK.
Some Insurers have said they are unlikely to offer a freelance product, but others have confirmed their willingness to help to us.
With the concept being so new, Insurers will be seeking to understand the variation in business models that arise from this change.
To allow us to approach Insurers for quotations we will need:
- A completed proposal form -our form can be downloaded below.
- Your CV
- Your freelance business plan
We recommend ringing us to discuss further so that you can gather all the information you need prior to filling out the proposal form.
For guidance on the new rules, we recommend contacting legal compliance specialists, Jonathon Bray.
"I would like to say a big personal thank you for your professionalism and for getting this across the line. The service has been exemplary and it has been a pleasure working with you. I will definitely recommend you to any fellow solicitors which may be considering the freelance model. I am sure there will be more and more of us popping up after the pandemic subsides and as the new model gains traction."