Professional indemnity (PI) agent Inperio has teamed up with underwriter Accredited Insurance to launch a PI policy specifically for freelance solicitors.
Inperio claims it is the first policy to be created for freelancers regulated by the Solicitors Regulation Authority (SRA).
In a statement announcing the new product, Inperio said the facility was created to meet a growing demand for professional indemnity cover for freelance solicitors, following the introduction of the SRA’s new standards and regulations in November 2019.
Inperio CEO Simon Lovat said: " Since the introduction of the new Freelance Solicitors regulations in November 2019 the legal industry has been looking for a suitable solution and now we are in a position to offer it.''
Colin Johnson, CEO of AIEL program management, added: "We are really excited to be supporting Inperio, and offering this new and much needed product to freelance solicitors. It reflects the strength of our relationship which combines Inperio's expert underwriting and knowledge of the market with Accredited's strong balance sheet, high quality capacity and a culture of acting swiftly to meet customers' ever-changing requirements. This is a natural extension to our existing business with Simon and his team at Inperio and we are confident this new policy will enjoy the same success.''
The SRA introduced new regulations to enable solicitors to offer services to the public outside of the traditional legal entity models as part of the new standards and regulations on 25 November 2019.