London, United Kingdom, September 05, 2014 --(PR.com
)-- The vast majority of legal practices in the UK must renew their solicitors PII policy by October 1st.
Commenting, Kevin Burke, representative for solicitors professional indemnity insurance brokers Total Insurance, said:
"Firms that have not started the renewal process yet are leaving things dangerously late!
"Practices that do not renew their policies before October 1st could face significant unnecessary expenditure should they enter the Extended Indemnity Period, and those who fail to renew their policies by the end of this period may have to shut down.
"In order to get the right level of cover at the right price, solicitors must give themselves plenty of time to prepare their proposal forms, communicate with brokers, send off their proposals and receive a quote. Rushing this process can result in companies paying far more for their insurance than they would otherwise have to, or even failing to receive insurance at all.
"Solicitors that cannot successfully secure insurance will be unable to operate legally.
"Fortunately, Total Insurance can turn around proposal forms in just 48 hours, so there's still time!"
Notes for editors
Total Insurance is a commercial insurance broker that specialises in solicitors professional indemnity insurance. Call 01254 355533 or 01274 360210 to speak with them, or visit http://totalinsurance.uk.com.