At JLT we have a highly experienced team of specialists who understand the risks that large law firms face. As the risks are constantly evolving so too does our coverage and advice - we craft policies to manage those changing exposures.
Helping our clients make informed decisions
The main area of focus for law firms is professional indemnity (PI) insurance, we use client data gathered from over 2,000 firms across England and Wales to analyse premiums, fees and claims tends to make sure our clients are getting the best deal, are pitching their risks most effectively to insurers and are differentiating themselves from the competition. It also enables our clients to make more informed decisions on what and how they buy in the context of what is happening in the market as a whole.
It’s not just about PI – a non-siloed approach to risk
Our approach to law firms is three pronged – (1) helping protect your assets and liabilities, (2) helping you do more business and (3) helping your clients do more business. It’s not just about being the PI or general insurance broker. But for example, we have brought revenue to our clients via litigation funding and ATE deals and we work with you to see how JLT and your firm can do more together and we help their clients buy and sell companies using Warranty & Indemnity insurance and other related products.
Why work with us: Personal service and planning
Our clients say that our service offering is personal and ahead of our competitors. This is confirmed by Law Society and other client surveys. It sounds simple but we plan ahead. We deliver thus better results, are always available and responsive. Our sector knowledge is deep and informative.
Whilst the main area of focus for law firms is professional indemnity (PI) insurance we also look at a services and insurance to include:
- Property - Our team provides access to both local and global insurance market places, with additional specialists around the globe. We are disciplined in our approach and work collaboratively across the JLT Group to find innovative solutions for our clients. We offer expertise in property and casualty insurance, commercial building insurance and are able to design programmes to meet the unique needs of each of our clients.
- Cyber - Our cyber risks team offers a bespoke solution to fit your specific threats and needs. Our expertise includes cyber security, cyber liability insurance and emerging cyber threats.
- Kidnap & Ransom - Our Credit, Political and Security (CPS) team offers a broad variety of products and services to protect corporates, financiers, public entities and individuals operating, trading or investing, cross-border. Our risk management services include political risk insurance, kidnap and ransom, political violence and we also offer a comprehensive consultancy service.
- Employee Benefits - As one of the UK's leading pension and employee benefit consultancies, we inform, consult and deliver to be a single central provider of solutions which meet the needs of employers, trustees and individuals.
- Management Liability – We provide guidance and broad, tailored solutions to meet the management liability needs of our clients. Our services include but are not limited to directors and officers (D&O) insurance, employers liability, pension trustee insurance and crime insurance.
Taking a comprehensive approach to risk management we are able to ensure our products and services are fit for purpose and there is no duplication in cover or worse still gaps in cover.
Why our clients value us
Our dedicated team arranges the cover required to protect you from financial loss arising from PI claims. We work closely with you from the outset to fully understand your business, and examine your business type, claims history and risk profile to ensure we understand your key objectives and requirements. Our actuaries, when it is appropriate, analyse your claims history to allow us to properly consider different policy deductible options. By applying this approach, we’re able to design the policy coverage to meet your exact requirements. This ensures your premium is not wasted on extensions which add little or no value to your business needs. The close relationships with have with our insurer partners ensures they recognise our brokers’ skills and the effectiveness of our approach. This, in turn, enables us to deliver the best solution to you.
JLT offers expertise to law firms worldwide. We have the strength and depth of understanding to skilfully navigate our law firm clients through the insurance market and to select the right insurer for your individual risks. Having understood your needs, risks and priorities we drive negotiations and differentiate your risks in the market to secure the best result for you.
For further information, please contact Lindsay Ratcliffe, Partner, Financial Lines Group on +44 (0)20 3394 0473