MFL Professional is one of only a small number of truly specialist Professional Indemnity Insurance (PII) brokers to have secured access rights to a new facility for Solicitors PII which could offer a real alternative for firms looking to secure renewal terms.
Firms continue to face challenging conditions in securing Professional Indemnity cover, and this new capacity arrives at a time when a stable, robust, and long term solution is greatly needed. Offering competitive pricing, and backed by a high quality service, it launches just in time to help solicitors with their renewals on the 1st October.
Not only has the exit of a number of high-profile insurers from the market left many firms without an insurer, many of those insurers which remain have a reduced appetite to insure due to the uncertainty around claims activity and the anticipated number of firms predicted to enter the Assigned Risks Pool (ARP).
The facility will accommodate firms with between one and 25 partners, and clients will have access to a full risk management service, including risk reviews, specialist Lexcel level reviews, and an in house claims handling service.
Policies will be issued by Alpha Insurance A/S, a Danish Insurance company based in Copenhagen. Cover will be underwritten by re-insurer Greenlight Re, a specialist casualty re-insurance company, rated A- (Excellent) by AM Best, and listed on Nasdaq.
Although the Solicitors renewal season is in full swing this could be an excellent opportunity for those firms who have yet to finalise their arrangements for 2010.
Obtaining a quote from this new facility could not be simpler:
1. A copy of the renewal submission, to be sent by email to
quote@m-f-l.co.uk or alternative by fax or post. Ensuring it includes:
- Fully completed proposal form
- Confirmed claims experience for the last 10 years of insurance
- Details of the current insurer
- Premium history for the last three years
2. MFL will acknowledge receipt and vet the application prior to submission to Alpha Insurance A/S.
3. Upon acceptance the quote will follow within a matter of days.
Why MFL?
MFL is one of the UK’s leading true professional indemnity specialists outside of London and has been advising legal firms since 1993.
MFL has had the official endorsement of the Manchester Law Society since 2007 as the preferred provider of commercial insurance products to its members.
“After very careful consideration Manchester Law Society chose to recommend the services offered by MFL to its members. They impressed us with their professionalism, breadth of experience and understanding of the requirements of the profession. We have been extremely impressed with the commitment and passion shown by MFL and look forward to developing a long and beneficial relationship”
Fran Eccles-Bech – Executive Director – Manchester Law Society
MFL is directly authorised and regulated by the FSA.
MFL will provide you with a complete specialist service tailored to meet your specific needs and will include:
• Where appropriate visiting the firm to fully understand the business and plan a strategy renewal based on market conditions and of course your own requirements;
- Assistance with the completion of the proposal form;
- Ongoing communication with regard to relevant issues;
- The marketing to insurers
- The presentation to of the terms obtained along with our recommendation;
- The binding of the cover and the obtaining from insurers of the correct documentation in a timely fashion, and the arrangement of premium finance if necessary;
- Our claims team of highly qualified and experienced people would guide you through the claims process, including the provision of advice as to whether a “potential claim circumstance” should be notified to insurers and/or when.
Finally, MFL is an independent brokerage wholly owned by the six working Directors who are committed to ensuring the interests of their clients come first.
For more information about MFL please visit our website and click on the 'About Us' section. http://www.m-f-l.co.uk/solicitors