Barristers' Excess PI Scheme
As a practicing barrister, you will no doubt be aware that the Bar Council requires you to purchase PI cover through the Bar Mutual Indemnity Scheme. This scheme provides members of the Bar with PI cover, with limits generally up to £2.5m; however the Mutual can also offer limits up to £5m.
However, this level of indemnity alone is often not sufficient insurance protection to barristers who are involved in particularly weighty litigation or advising on significant transactions, since limiting your liability is not something particularly encouraged by the Bar Council (for more information see Restricting Liability). Thus many barristers involved in commercial, tax, matrimonial finance or chancery opt for purchasing Excess Professional Indemnity Insurance in addition to the cover they are obliged to purchase from the Bar Mutual Indemnity Scheme.
SBJ is approved by the Bar Services Company (BarCo) to arrange Excess Professional Indemnity Insurance (EPII) for members of The General Council of the Bar for England and Wales. In addition, we are also recommended by the Bar Mutual Indemnity Fund. We specialise in placing PI on behalf of barristers, in excess of the £2.5m or £5m that they purchase from the Bar Mutual Indemnity Fund. Due to our Lloyd's accreditation, we are also the only insurance brokers in the UK who have strong expertise in arranging EPII protection and who can deal with both chambers and Lloyd's on a direct basis.
Our unique position of being able to deal directly with Lloyd's insurers and chambers has resulted in us being able to offer members of the Bar competitive pricing, whilst maintaining a highly swift and responsive service.
We currently arrange EPII cover for a significant number of individuals from some of the UK's leading sets.
Should you require a competitive quotation please contact:
Robin Wilson
Professional Risks
T: 020 7816 3214
E: robin.wilson@sbjgr.com
To download a proposal form, click here.