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INDEMNITY: the first in a series looking at developments in the legal market

When the Solicitors Indemnity Fund ceases in September, law firms will have to go to the open market for insurance.

So far, 22 insurers have signed up to the Law Society's minimum terms and conditions.

Those which will offer direct insurance are:l St Paul International Insurance (joint venture insurance partner with the Law Society);l QBE International Insurance; l Zurich Professional.Those which will offer insurance only through brokers:l Ace Underwriting Agencies (syndicate 2488);l AD Hicks and MH Wheeler and others (syndicate 1007);l Admiral Underwriting Agencies;l AIG Europe (UK);l Alleghany Underwriting (via Lloyd's broker);l CGU Insurance;l Chartwell (syndicate 839);l Cox Syndicate Management (syndicate 1208);l Hiscox Insurance Company;l Hiscox Syndicates (syndicate 33);l Independent Insurance Company;l Liberty Syndicate Management (syndicate 190) (via Lloyd's broker);l Lloyd's Syndicate SJB 1212;l Mitsui Marine International (syndicate 3210);l R E Brown & Others (syndicate 702 at Lloyd's);l Royal & SunAlliance;l Saturn Professional Risks for MMA Insurance;l The Underwriter Insurance Company;l Wren Syndicates Management;(Full contact details are on www.indemnity.lawsociety.org.uk).Aon has launched a range of professional indemnity insurance products - underwritten by QBE International insurance - aimed at firms from two to ten partners (tel: 020 7301 5099).

FirstCity will be offering an on-line quotation service to firms of up to three partners from mid-July.

(To register interest, e-mail: sarah.mcqueen@fcib.co.uk)Brokers Greystoke Legal Services have launched Professional Indemnity Assist aimed at its panel members.

The service will provide an open-market and own-product quotation service, financing to meet shortfall and renewal premiums, and claims discounts for firms with case management systems (tel: Gillian Braid, 020 8410 3608).HSBC is targeting an across-the-board range of insurance products for firms though its banks (tel: 020 7661 2543)Nelson Hurst has entered into an agreement to provide insurance via the Sole Practitioners Group.

It has also launched an on-line risk management and proposal form and a bespoke risk-management service upon request.

(See www.professionalindemnityinsurance.co.uk or tel: 020 7962 2401).PYV insurance brokers has published a solicitor's guide to obtaining open-market insurance (tel: Michael Rendell, 020 7626 6789 or see www.pyv.co.uk)London law firm Reynolds Porter Chamberlain has produced a free guide for solicitors with details of the new insurance regime and advice on dealing with claims (tel: Suzanne Dutson, 020 7242 2877).The Solicitors Indemnity Fund (SIF) has sent out self-assessment risk audits to all firms to assist them in finding open-market insurance (tel: Lynne Roberts, 0207 566 6005).

Sue Allen