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I'm with Frank on this. Although Patrick Stevens may well be right, and "firms" will liquidate their uninsured company as soon as the claim arrives, the claim for personal liability against the professional has long existed. See e.g Merrett v Babb. Although the Courts have been moving away from that sort of liability so it arises only where there was sufficient personal relationship, the Courts are very likely to start moving back towards imposing liability on an individual negligent solicitor (or whatever we end up classifying ourselves as) when they give advice and then positively seek to avoid liability through liquidation. There may be no relevant policy in place, but if you have a house, that will be up for grabs. And the issue isn't whether the claim will eventually be established. It's about who is going to pay to defend it once the claim has been intimated.