There is a greater willingness on the part of underwriters to offer longer-term insurance deals to the larger law firms, a leading broker claimed this week.

Elizabeth Mullins, executive director of Aon Professional Risks, predicted that if the market continues to soften over the next 12 months, there is likely to be more interest in such deals next year.


Mullins: more interest next year
Ms Mullins said that although there were signs that competition for the primary £1 million layer of cover had pushed prices down around 10% overall, top-up cover is beginning to stabilise.

She added that the buying patterns of most firms have remained constant in terms of limits and excesses - even for those firms that are now limited liability partnerships.


'At the upper end, limits of £200 million are still commonly sought, and capacity at this level and higher is available,' she said.


  • Our story on indemnity last week (see [2004] Gazette, 30 September, 1) should have made it clear that it is a breach of the Solicitors Indemnity Rules not to have a policy in place on 1 October.