Chancery Pii was created in 2013, in partnership with the Law Society, to provide sustainable professional indemnity insurance backed by insurer(s) with a financial strength rating of at least A+ (Standard & Poor's) or equivalent to new and established law firms in England and Wales with 1–4 partners.
We are an independent Managing General Agent and offer law firms an alternative to the traditional broker-lead approach. First, we do not accept applications from brokers because we prefer to deal with our clients on a direct basis; second, we have the ability to choose which capacity providers we work with. This flexibility gives us the freedom to only work with insurers who have a financial strength rating of at least A+ (Standard & Poors) or equivalent* and share our dedication to the needs of 1-4 partner firms. It also means that, regardless of market conditions, our clients always benefit from competitive rates.
Since our inception in 2013 eight of our competitors have either withdrawn from or entered and exited the 1–4 partner sector. In contrast, we have been active participants in the 1–4 partner sector throughout the period, built strong, long-lasting relationships with our established clients and grown our book of business steadily.
So, whilst other insurers come and go, Chancery Pii provides a reliable, long-term solution to new and established law firms with 1–4 partners seeking professional indemnity insurance and we remain the only insurance provider devoted solely to this sector.
*We are now backed by AXIS Specialty Europe SE (A+ by Standard & Poors; A+ by A.M.Best)
CLIENT SERVICE
All clients and prospective clients are allocated a dedicated client service manager to provide guidance throughout the renewal process. Once a policy is in place the client service manager is available to provide specialist advice on any PII or related insurance matter throughout the course of the policy period.
KEEPING COSTS DOWN
As a Managing General Agent we have the ability to choose which capacity providers we work with. This gives us the freedom to only work with insurers who have a financial strength rating of at least A+ (Standard & Poors) or equivalent and who share our dedication to provide 1 - 4 partner firms with competitive premiums.
CLAIMS EXPERTISE
It is not until a claim arises that the support of a claims service can be fully appreciated and tested. Chancery Pii claims are dealt with by a specialist team of solicitors' PII claims managers and lawyers and our clients value the swift response times, regular and thorough communications and, above all else, the expert advice they receive.
SECURITY & STABILITY
We are backed by participating insurer(s) with significant experience in the solicitors professional indemnity insurance market and will only use insurer(s) with a financial strength rating* of at least A+ (Standard and Poor’s) or equivalent. Whilst other insurers have come and gone, Chancery Pii has continued to provide stability and build long-lasting relationships.
THE INSURANCE PROCESS MADE QUICK AND EASY
We can’t thank Chancery Pii enough for the professional service that they provide and the personal touch that really sets them above other competitors. Despite being a small Law Firm, they provide all the reassurance that our business is valuable to them. Chancery Pii make the insurance process quick and easy and it is reassuring that we have their level of support.
Sonny Chall
EXCELLENT CUSTOMER EXPERIENCE
My firm was a ‘new start’ opening on the 1 December 2013 and professional indemnity insurance was a key issue. I heard about Chancery Pii through personal recommendation and the regular Law Society ‘Professional Update’ emails. My customer experience was excellent. From the first phone call the team were helpful and responsive and assisted me in dealing with the application process – particularly as a new firm. I cannot speak highly enough of the professionalism, speed, quality and humour of the team at Chancery Pii. The company also delivered on that which was most important for my firm – a wholly appropriate quotation for professional indemnity insurance.
This is a very positive demonstration of the support from The Law Society for the profession in these difficult days of economic instability combined with fundamental legislative changes in the provision of legal services.
Mark Brown
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