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The Legal Services Board (LSB) has approved the Council of Licensed Conveyancers (CLC) proposal for practices to move away from its Master Policy with an opt-out for Professional Indemnity Insurance to a more competitive open-market approach. Instead, five insurers have signed up to a Participating Insurers Agreement setting out Minimum Terms and Conditions of cover. CLC regulated entities are now free to choose from all Participating Insurers.
Professional Indemnity specialists and recommended insurance broker to The Society of Licensed Conveyancers (SLC), Howden are one of the brokers offering a CLC compliant PI facility underwritten by participating A-rated insurers Pioneer and Channel. The policy is approved by the Council for Licensed Conveyancers (CLC) and compliant with the regulator’s minimum terms and conditions, including the provision of the newly available free run off provision for firms insured under the 01/07/2016 policy period.
Regulated firms regardless of size are serviced by the same team of over 20 specialists with each risk broked individually. Members of the SLC and the Conveyancing Association also receive a discount of 5% or minimum £300 on their PI premium.
For more information on Howden’s Conveyancing facility, visit http://www.howdengroup.co.uk/en/business-products/professional-indemnity/conveyancers/