Do you need cover after SIF closes?

SIF is closing in September 2020

Principals of law firms which have closed and rely on SIF to provide ongoing Professional Indemnity cover once the practice 6-year run-off policy has expired, will need to give careful consideration to arranging additional insurance from 30th September 2020.

From 1st October 2020 when SIF is closed to new claim notifications, solicitors of closed firms will be personally liable without replacement run-off insurance.

We have Insurers available to cover this exposure, although we expect that relatively few will do so in otherwise challenging market conditions.

If you would like help with run-off cover after SIF’s closure, please contact Gary Horswell.

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