Starting a new legal practice can be both an exciting and a daunting step, with a number of regulatory requirements to comply with. One such requirement is arranging your new firm’s cover under the Master Policy, which is the Law Society of Scotland’s compulsory Professional Indemnity Insurance. Your Master Policy cover must be in place before you commence trading, and in order to help you with this process we have created a comprehensive guide to obtaining cover for a new practice. The guide provides important information on each step of the process, including:
How your Master Policy premium will be calculated.
How to complete your proposal form.
Documentation needed to arrange cover.
You can download the guide here (opens a new window):
For more information you can contact us through: masterpolicyteam@uk.lockton.com (opens a new window)