With just weeks to go before the professional indemnity insurance renewal deadline, firms need to be aware of the different risk profiles created by different practice sizes and exposure to certain sectors, says Jonathan Davies
The financial crisis and subsequent economic downturn in the UK economy has hit some law firms and solicitors hard. Many have experienced a reduction in fee income and are looking to cut costs accordingly. Professional indemnity insurance can be a significant expenditure for many firms, but purchasing should be taken seriously and not viewed as just a commodity.
