The Client
Our client is an established legal firm based in the south-east. With a reputation for delivering excellent customer care and commitment to providing clear, practical solutions. A team of experienced solicitors provide specialist services on residential and commercial property, family law, private client services, and civil litigation.
The Challenge
For solicitors throughout the UK, professional indemnity insurance is rendered mandatory by their governing body, the SRA. Our client needed to upgrade an existing policy for two reasons:
● Primarily, as the firm continues to grow and branch into new areas of law, it is apparent that they will outgrow their existing PII policy.
● Based on a condition of appointment from a prospective retainer client – securing the retainer would boost their income considerably, but not without the upfront cost of a more advanced professional indemnity insurance policy.
How we helped
We worked with the firm to build a bespoke commercial loan package that suited their requirements, facilitating the purchase of a new PII insurance policy without the considerable upfront cost. Timing was a major concern, as the firm wanted to lock in their prospective client, meaning our 24-hour turnaround was a huge advantage. Now, the firm can move ahead confidently, providing the best client care with the insurance to back it all up.
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