SRA Legal Expenses Protection that saves time, money and stress
Market-leading Legal Expenses cover for solicitors firms, tailored to your needs during an SRA investigation.
Why does a solicitors firm need specialist Legal Expenses cover?
As regulated professionals, solicitors can benefit from Legal Expenses cover that goes above and beyond general business protection:
- Investigations by the Solicitors Regulation Authority (SRA) into alleged breaches of standards and regulations cost time and money
- Anyone at a firm can be investigated after a complaint or report of an alleged breach, whether they are a solicitor themselves or not
- An SRA investigation may go before the Solicitors Disciplinary Tribunal (SDT), incurring further legal fees in the form of defence costs
Solicitors Legal Expenses cover that you can trust
- Fit-for-purpose and designed specifically for the risks faced by regulated solicitors firms
- Cover everyone, including partners, consultants, and those working as regulated Compliance Officers for Legal Practice (COLP) or Finance and Administration (COFA)
- Limits of up to £250,000 – more than double that offered by Regulatory Defence Costs cover when sold as part of Professional Indemnity or Management Liability (or Directors’ and Officers’ Liability) insurance, with higher limits available upon referral
- Direct access to solicitors who have already been through an SRA investigation, Monday - Friday, 9am-5pm
SRA Legal Expenses FAQs
We answer your Frequently Asked Questions.
Cover is provided for the costs involved in the defence of a solicitor or firm being investigated by the SRA. If the case goes before the SDT, the policy will pick up both the costs of defending the solicitor or firm, and any costs awarded against them by the SRA or SDT. No fines or compensation orders are covered.
This policy is for firms with a turnover of less than £2m. Typically a firm of this size would have up to eight partner equivalents, and 15-20 fee earners. We can provide tailored quotes for larger firms on request – please contact us.
With several recent SRA cases running into legal fees amounting to hundreds of thousands of pounds, and the Leigh Day SRA investigation running into the millions, precedent shows that bolt-on cover with limits as low as £100,000 offers inadequate protection.
This type of policy may only cover employees of the business, and where appropriate amendments to the Insured Person definition are not made, event partners may not be covered. Our specialist solicitors' Legal Expenses policy covers everyone working for the business, including consultants and regulated COLP/COFAs. In addition, your firm and its staff will remain indemnified even when one individual is found to be responsible for criminal or fraudulent acts, without the knowledge of their peers or the corporate entity as a whole.
Our policy will pay defence costs as long as there is a reasonable element of innocence against the allegations. However, should it become clear that you are criminally responsible or where a criminal conviction is obtained against you, indemnity will cease and you may be pursued for their costs.
No claims can be made in the first 90 days of your policy.
Powered by DAS
DAS UK Group has been helping businesses and individuals get access to justice for over 40 years. Serving almost 7 million customers in the UK, it is part of a global insurance group which combines expertise in insurance and law, providing ultimate protection against the impact of unexpected legal costs.
