Professional Liability / Solicitors

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1 Financial Lines THIS INFORMATION IS INTENDED FOR INSURANCE BROKERS AND OTHER INSURANCE PROFESSIONALS ONLY Professional Liability / Solicitors 1

2 Our Professional Liability Insurance for solicitors is designed for legal practices with more than 4 partners Good Practice Rewarded Investing in relationships Our approach to Solicitors Professional Liability goes deeper than simply offering cost-effective insurance solutions. At AIG, we appreciate the value of investing in relationships. Our goal is to work with our clients and their brokers to find ways to deliver mutual benefits over the longer term. Our Professional Liability solutions are ideal for the practice that can demonstrate above average risk management awareness; in terms of the practice structure, terms of engagement, staff training and operational systems. Transparency and a deeper relationship We are keen to develop relationships with our solicitor clients. To get the maximum benefit from your insurance cover, we want to encourage you, in conjunction with your insurance broker, to make the most of our underwriters and claims handlers. For instance, we would be delighted to visit your office to discuss any aspects of your Professional Liability insurance, such as how your premium is calculated. Strength and Security Here in the UK we are one of the UK s top commercial insurers, insuring over half of the UK s 1,000 biggest companies, thousands of its SME s and millions of UK customers. 2

3 Our Professional Liability Cover for solicitors at a glance: Professional Liability: Why AIG? Underwriting expertise Specialist claims handling - sensitive to your commercial relationships Desire to build long term relationships Long track record of writing solicitors Professional Liability What we cover: AIG SOLICITORS PROFESSIONAL LIABILITY PROVIDES AGE COMPLIANT WITH THE REQUIREMENTS OF THE LAW SOCIETY OF ENGLAND AND WALES: Claims Made basis Any One Claim basis Civil Liability Defence Costs in Addition to Policy Limits Retention not applicable to Defence Costs These are brief product descriptions only. Refer to the policy for full terms and conditions applicable. Any scenarios are given as brief examples which may give rise to claims. These descriptions should not be relied on to justify coverage in any situation. 3

4 Here to Help We re proud to be a leading provider of Professional Liability insurance for solicitors in England and Wales. We automatically include in our policies risk management benefits and services that help support your own procedures. As a client you ll also get access to a dedicated legal advice hotline. This service offers up to an hour s specialist legal advice at no additional cost on any matter of concern that you may have reported to us. Ask Us About Claims What could be more important in your choice of insurance provider than the quality of their Claims services? We are keen to ensure that our clients views are taken into account in any matter, particularly in respect of any existing commercial relationships. Our dedicated Professional Liability Claims team assigns each client their own experienced claims handler, empowered to settle matters quickly and commercially. They, in turn, are supported by a panel of defendant lawyers chosen with respect to your geographical location and all with a proven history in dealing with similar claims. Underlying all this is our determination to defend your interests vigorously. Defending Professional Liability Claims Against Solicitors Our claims team comprised of insurance adjusters and solicitors Significant experience handling claims against solicitors Established relationships with specialist Professional Liability barristers Policyholders may choose from panel of expert solicitors to advise and support defence Vigorous defence of unmeritorious claims - to trial if necessary Defence strategy sensitive to ongoing client relationships No policyholder retention for defence costs Claims helpline - specialist legal advice on any claims matters 4

5 BELFAST Enterprise House 55/59 Adelaide Street Belfast BT2 8FE Tel: Fax: BIRMINGHAM Embassy House 60 Church Street Birmingham B3 2DJ Tel: Fax: CROYDON 2-8 Altyre Road Croydon Surrey CR9 2LG Tel: Fax: GLASGOW 4th Floor 69 Wellington Street Glasgow G2 6HJ Tel: Fax: LEEDS Yorkshire House Greek Street Leeds LS1 5SX Tel: Fax: LONDON 58 Fenchurch Street London EC3M 4AB Tel: Fax: MANCHESTER 4th Floor, 201 Deansgate Manchester M3 3NW Tel: Fax: American International Group, Inc. (AIG) is a leading international insurance organisation serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. Products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. In Europe, the principal insurance provider is AIG Europe Limited. This material is for information purposes. Not all products and services are available in every jurisdiction, and insurance coverage is governed by the actual terms and conditions of insurance set out in the policy or in the insurance contract. Certain products and services may be provided by independent third parties. Insurance products may be distributed through affiliated or unaffiliated entities. For additional information, please visit our website at AIG Europe Limited is registered in England: company number Registered address: The AIG Building, 58 Fenchurch Street, London EC3M 4AB. AIG is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN number ). This information can be checked by visiting the FS Register ( UC FLS PI NOV14