Solicitors Professional Indemnity Insurance (Amendment) Regulations 2022.
Statutory Instruments
Source: Statutory Instruments

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paragraphs: 1. In these terms and conditions, the following expressions shall have the following meanings:-
(a) civil compensation of any nature or civil damages of any nature; or
(b) any award to be made pursuant to the provisions of the Solicitors Acts 1954 to 2015, the Legal Services Regulation Act 2015 , or any regulations made thereunder, for compensation or restitution to clients or any other obligation that may be imposed on solicitors or Registered Lawyers to compensate or make restitution to clients by statute from time to time, but for the avoidance of doubt, the term “Claim” does not include any claim for the payment of costs incurred by any Insured in defending or resisting proceedings seeking an award against that Insured of the nature described in this sub-paragraph (b) where the Insurance, in accordance with the Minimum Terms and Conditions, excludes the Insurer’s liability to indemnify the Insured in respect of such costs.
(a) defending any proceedings; or
(b) conducting any proceedings for indemnity, contribution or recovery; or
(c) investigating, reducing, avoiding or compromising any actual or potential Claim;
(i) any internal overhead expenses of the Firm or the Insurer or the cost of any Insured’s time; or
(ii) any costs incurred by an Insured in defending or resisting proceedings seeking an award against that Insured of the nature described in paragraph (b) under the definition of “Claim” where the Insurance, in accordance with the Minimum Terms and Conditions, excludes the Insurer’s liability to indemnify the Insured in respect of such costs;
(a) a credit institution as defined in section 2(1) of the 1995 Act; or
(b) a credit institution that is the holder of an authorisation for the purposes of Article 3(1) of Directive 2013/36/EU; or
(c) a retail credit firm authorised pursuant to section 31 of the 1997 Act; or
(d) a home reversion firm authorised pursuant to section 31 of the 1997 Act; or
(e) any other party that engages on a professional basis in the business of providing financial accommodation of any nature to another person; or
(f) any assignee of debt from an entity that has been engaged in the business of providing financial accommodation of any nature to another person, including without limitation, NAMA;
(a) any Partnership of two (2) or more solicitors or registered lawyers (as constituted from time to time, whether before or during any relevant indemnity period); or
(b) a legal partnership (as constituted from time to time, whether before or during any relevant indemnity period), where such Partnership includes at least one (1) solicitor or registered lawyer; or
(c) a multi-disciplinary practice (as constituted from time to time, whether before or during any relevant indemnity period), where such multidisciplinary practice includes at least one (1) solicitor or registered lawyer; or
(d) any sole practitioner being either a solicitor or registered lawyer, and including a sole practitioner who employs one (1) or more solicitors or registered lawyers, and a sole practitioner who, although having established a practice, is employed by a person who is not a solicitor or registered lawyer; or
(e) a limited liability partnership, where such partnership includes at least one (1) solicitor or registered lawyer;
(a) the Firm; or
(b) each trustee, nominee, service or administration company owned, in whole or in part, by the Firm and/or one or more of the Principals of the Firm from time to time; or
(c) each director, officer or employee of any such company as is referred to in paragraph (b) above from time to time; or
(d) each Principal or former Principal of the Firm from time to time; or
(e) each Employee or former Employee of the Firm from time to time; or
(f) the estate or legal personal representatives of any deceased former Principal or Employee of the Firm;
(a) any Investment Business Services or Investment Advice provided by a Firm; and
(b) acting as personal representative or trustee; and
(c) acting as notary public; and
(d) acting as a commissioner for oaths; and
(e) acting as liquidator or receiver; and
(f) acting as company secretary; and
(g) acting as director of any body corporate owned, in whole or in part, by one or more of the principals of a firm that provides trustee, nominee, administration or other similar services; and
(h) acting as arbitrator, mediator, expert determiner, conciliator or adjudicator; and
(i) acting on a pro bono basis; and
(j) acting as Personal Insolvency Practitioner; and
(k) acting as an expert witness and/or providing opinions as a professional expert; and
(l) acting as a patent agent; and
(m) acting as a registered trade mark agent; and
(n) acting as a European trade mark & design attorney;
(a) notifying an Insured that a deficit has arisen on one or more of the Insured’s Client Accounts; and
(b) informing the Insured of the Insured’s obligation to rectify such deficit(s); and
(c) setting out the regulatory consequences for the Insured should such rectification not occur within a specified period of time;
(a) an Authorised Insurer which has entered into and duly executed a Participating Insurers Agreement with the Law Society on or before 1 November immediately prior to the commencement of that Indemnity Period and which is effective to permit such Insurer to underwrite Qualifying Insurance; or
(b) an Authorised Insurer which has entered into and duly executed a Participating Insurers Agreement with the Law Society in accordance with Regulation 17(e) of the Regulations and which is effective to permit such insurer to underwrite qualifying insurance.
(a) which has ceased practice; and
(b) to which the Firm’s Practice is a Succeeding Practice;
(a) the sole practitioner of any Firm which during any indemnity period carries on or carried on business as a sole practitioner and includes a sole practitioner who employs or employed one (1) or more solicitors or registered lawyers; or
(b) every Partner of a Firm and every person held out as a Partner of a Firm that during any indemnity period carries on or carried on business as a Partnership; or
(c) a Practice Manager.
(a) it is held out as being a successor to the practice or part thereof of the Preceding Practice by whatever means such holding out occurs; or
(b) it is conducted by a Partnership where two or more of the Principals are identical to those persons who were Principals of any Partnership that conducted the Preceding Practice; or
(c) it is conducted by a sole practitioner who was the sole practitioner conducting the Preceding Practice; or
(d) it is conducted by a sole practitioner who was one of the Principals conducting the Preceding Practice; or
(e) it is conducted by a Partnership in which the sole practitioner conducting the Preceding Practice is a partner and where no other person has been held out as a successor to the Preceding Practice; or
(f) the Partnership which, or sole practitioner who, conducts the practice has assumed the liabilities of the Preceding Practice;
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paragraphs: 2. In these Minimum Terms and Conditions, unless the context otherwise requires:
(a) words and expressions shall have the same meaning and shall be construed consistently with the same words and expressions in the Solicitors Professional Indemnity Insurance Regulations 2020;
(b) the Interpretation Act 2005 shall apply for the purpose of interpreting these Minimum Terms and Conditions as it applies to the interpretation of an act of the Oireachtas, except insofar as it may be inconsistent with the Solicitors Acts 1954 to 2015, the Legal Services Regulation Act 2015 , the Regulations or with these Minimum Terms and Conditions;
(c) a reference in these Minimum Terms and Conditions to any directive, statute, statutory provision, statutory instrument or other similar instrument includes:-
(i) any subordinate legislation made under it; and
(ii) any provision which it has superseded or re-enacted (with or without modification) or amended, and any provision superseding it or re-enacting it (with or without modification) or amending it either before, at or after the date of commencement of these Minimum Terms and Conditions;
(d) the singular includes the plural and vice versa;
(e) words denoting any gender include all genders and words denoting the singular include the plural and vice versa;
(f) any reference to a person shall be construed as a reference to any individual, firm, company, corporation, government, state or agency of a state or any association or partnership (whether or not having separate legal personality) of two (2) or more of the foregoing;
(g) references to a “company” include any body corporate;
(h) headings are inserted for convenience only and shall not affect the interpretation of these Minimum Terms and Conditions; and
(i) references to awareness of the Insured shall be limited to the actual knowledge of a Principal of the Firm, or any solicitor or registered lawyer employed by the Firm.
2 SCOPE OF COVER
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paragraphs: 1. The Insured
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paragraphs: 2. Civil Liability
(a) a Claim in respect of such civil liability is:
(i) first made against the Insured during the Coverage Period; and
(ii) notified to the Insurer during the Coverage Period or within three (3) Working Days immediately following the end of the Coverage Period; or
(b) a Claim in respect of such liability is first made during or after the Coverage Period and:
(i) arises from Circumstances first notified to the Insurer during the Coverage Period; or
(ii) arises from Circumstances first notified to the Insurer within three (3) Working Days immediately following the end of the Coverage Period provided that the Insured was aware of the Circumstances during the Coverage Period.
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paragraphs: 3. Continuous Coverage
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paragraphs: 3.1. Notwithstanding the provisions of clause 2.2 and subject to the provisions of clause 2.3.2, the Insurance must indemnify the Insured against civil liability incurred by the Insured arising from any provision of Legal Services where:
(a) a Claim in respect of such liability:
(i) is first made against the Insured during a coverage period (the “Relevant Period”) of a professional indemnity insurance policy (the “Relevant Policy”) held by the Firm with the Insurer in respect of an Indemnity Period commencing on or after 1 December 2013; and
(ii) is first notified to the Insurer during the Coverage Period;
(b) the Insured maintained Qualifying Insurance with the Insurer without interruption from the Relevant Period until the date of notification of the Claim to the Insurer; and
(c) the Claim would have been covered by the Relevant Policy,
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paragraphs: 3.2. Where the Insurance is underwritten on a co-insurance basis, the Insurance may provide that an Insurer shall only be liable in respect of an Historic Claim where the Insurer provided cover to the Insured continuously and without interruption from the Relevant Period until the date of notification of the Historic Claim.
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paragraphs: 3.3. The liability of an Insurer in respect of any one Historic Claim referred to in clause 2.3.1 shall not exceed the lesser of the limit of liability of the Insured under the Insurance and the limit of liability of the Insured under the Relevant Policy.
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paragraphs: 3.4. In the case of co-insurance, the liability of an Insurer in respect of any one Historic Claim referred to in clause 2.3.2 shall not exceed the lesser of the Insurer’s proportion of the limit of liability of the Insured under the Insurance and the Insurer’s proportion of the limit of liability of the Insured under the Relevant Policy.
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paragraphs: 3.5. Notwithstanding the provisions of clause 4, the Self-Insured Excess payable by the Insured in respect of an Historic Claim referred to in clause 2.3.1 shall be the higher of the Self-Insured Excess applicable to the Insurance and the Self-Insured Excess applicable to the Relevant Policy.
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paragraphs: 3.6. Notwithstanding the provisions of clause 2.2 and subject to the provisions of clause 2.3.7, the Insurance must indemnify the Insured against civil liability incurred by the Insured arising from any provision of Legal Services where a Claim in respect of such liability is first made against the Insured during or after the Coverage Period and:
(a) arises from Circumstances which:
(i) the Insured first became aware of, or ought reasonably to have become aware of, during the Relevant Period of the Relevant Policy held by the Firm with the Insurer in respect of an Indemnity Period commencing on or after 1 December 2013; and
(ii) are first notified to the Insurer during the Coverage Period;
(b) the Insured maintained Qualifying Insurance with the Insurer without interruption from the Relevant Period until the date of notification of the Circumstances to the Insurer; and
(c) the Claim would have been covered by the Relevant Policy,
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paragraphs: 3.7. Where the Insurance is underwritten on a co-insurance basis, the Insurance may provide that an Insurer shall only be liable in respect of a Claim arising from Historic Circumstances where the Insurer provided cover to the Insured continuously and without interruption from the Relevant Period until the date of notification of that Claim.
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paragraphs: 3.8. The liability of an Insurer in respect of any one Claim referred to in clause 2.3.6 arising from Historic Circumstances shall not exceed the lesser of the limit of liability of the Insured under the Insurance and the limit of liability of the Insured under the Relevant Policy.
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paragraphs: 3.9. In the case of co-insurance, the liability of an Insurer in respect of any one Claim referred to in clause 2.3.7 arising from Historic Circumstances shall not exceed the lesser of the Insurer’s proportion of the limit of liability of the Insured under the Insurance and the Insurer’s proportion of the limit of liability of the Insured under the Relevant Policy.
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paragraphs: 3.10. Notwithstanding the provisions of clause 4, the Self-Insured Excess payable by the Insured in respect of a Claim referred to in clause 2.3.6 arising from Historic Circumstances shall be the higher of the Self-Insured Excess applicable to the Insurance and the Self-Insured Excess applicable to the Relevant Policy.
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paragraphs: 4. Defence Costs
(a) any Claim referred to in clauses 2.2, 2.5 and 2.6; and
(b) any Circumstance referred to in clauses 2.2, 2.5 and 2.6;
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paragraphs: 5. Preceding Practice
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paragraphs: 5.1. The Insurance must indemnify each Insured against civil liability to the extent that such liability arises from any provision of Legal Services in connection with a Preceding Practice, provided that:-
(a) a Claim in respect of such liability is:
(i) first made against an Insured during the Coverage Period; and
(ii) notified to the Insurer during the Coverage Period or within three (3) Working Days immediately following the end of the Coverage Period; or
(b) a Claim in respect of such liability is first made during or after the Coverage Period and:
(i) arises from Circumstances first notified to the Insurer during the Coverage Period; or
(ii) arises from Circumstances first notified to the Insurer within three (3) Working Days immediately following the end of the Coverage Period provided that the Insured was aware of such circumstances during the Coverage Period.
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paragraphs: 5.2. For the purposes of such cover as is contemplated in clause 2.5, the Insurance must include:-
(a) each Partnership or sole practitioner who carried on the Preceding Practice; and
(b) each trustee, nominee, service or administration company owned by the persons referred to in paragraph (a) from time to time; and
(c) each director or officer of any such company as is referred to in paragraph (b) above from time to time; and
(d) each Principal and former Principal of any Partnership referred to in paragraph (a); and
(e) each Employee and former Employee of any Partnership or sole practitioner or company referred to in paragraph (a) and (b); and
(f) the estate or legal personal representatives of any person referred to in this clause 2.5.2 who is deceased or legally incapacitated.
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paragraphs: 5.3. The Insurance may permit the Insurer to charge an additional premium in respect of coverage for a Preceding Practice provided pursuant to this clause 2.5, but the Insurance may not provide that the Insurer can decline to indemnify the Insured or cancel, terminate or avoid the Insurance due to non-payment of any such additional premium when due.
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paragraphs: 6. Succeeding Practice
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paragraphs: 6.1. Where there is a Succeeding Practice to the Firm’s Practice, the Insurance must indemnify each Insured against civil liability arising from any provision of Legal Services in connection with a Succeeding Practice to the Firm’s Practice, provided that:-
(a) a Claim in respect of such liability is:
(i) first made against an Insured during the Coverage Period; and
(ii) notified to the Insurer during the Coverage Period or within three (3) Working Days immediately following the end of the Coverage Period; or
(b) a Claim in respect of such liability is made during or after the Coverage Period and:
(i) arises from Circumstances first notified to the Insurer during the Coverage Period; or
(ii) arises from circumstances first notified to the Insurer within three (3) Working Days immediately following the end of the Coverage Period provided that the Insured was aware of such circumstances during the Coverage Period.
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paragraphs: 6.2. For the purposes of such cover as is contemplated in this clause 2.6, the Insurance must include:-
(a) each Partnership or sole practitioner who carries on the Succeeding Practice; and
(b) each trustee, nominee, service or administration company owned by the persons referred to in paragraph (a) from time to time; and
(c) each director or officer of any such company as is referred to in paragraph (b) above from time to time; and
(d) each Principal and former Principal of any Partnership referred to in paragraph (a); and
(e) each Employee and former Employee of any Partnership or sole practitioner or company referred to in paragraph (a) and (b); and
(f) the estate or legal personal representatives of any person referred to in this clause 2.6.2 who is deceased or legally incapacitated.
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paragraphs: 6.3. The Insurance may permit the Insurer to charge an additional premium in respect of coverage for a Succeeding Practice provided pursuant to this clause 2.6, but the Insurance may not provide that the Insurer can decline to indemnify the Insured or cancel, terminate or avoid the Insurance due to non-payment of any such additional premium when due.
3 Minimum Level of Insurance Cover
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paragraphs: 1. Minimum Level of Cover
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paragraphs: 2. Cover for Defence Costs
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paragraphs: 3. Proportionate liability for Defence Costs
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paragraphs: 4. No retrospective dates
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paragraphs: 5. No other limits
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paragraphs: 6. Co-insurance
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paragraphs: 6.1. The Insurance may be underwritten by more than one (1) Insurer, each of which must be a Participating Insurer and the Insurance may in such circumstances provide that the Insurer shall be severally liable only for its respective proportion of liability in accordance with the terms of the Insurance and shall state the respective proportions of liability of each of the relevant Participating Insurers.
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paragraphs: 6.2. Where the Insurance is underwritten jointly by more than one (1) Insurer, the Insurance must state which Participating Insurer shall be the Lead Insurer and in addition to any proportionate limit of Defence Costs in accordance with clause 3.3, the Insurance may provide that each Insurer’s liability for Defence Costs is further limited to the extent of the proportion of that Insurer’s liability (if any) in relation to a relevant Claim.
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paragraphs: 1. Self-Insured Excess
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paragraphs: 2. Effect of Self-Insured Excess
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paragraphs: 2.1. The Insurance must provide that the Self-Insured Excess does not reduce or limit the liability of the Insurer contemplated by clause 3.1.
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paragraphs: 2.2. The Self-Insured Excess must not apply to Defence Costs.
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paragraphs: 2.3. The Insurance may provide for multiple Claims to be treated as one (1) Claim for the purposes of the Self-Insured Excess on such terms as the Insurer and the Firm may agree.
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paragraphs: 2.4. In the case of Insurance written on an excess of loss basis, there shall be no Self-Insured Excess except in relation to the primary layer.
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paragraphs: 3. Payment of Self-Insured Excess to Claimant
5 SPECIAL CONDITIONS
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paragraphs: 1. Minimum Terms and Conditions must prevail
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paragraphs: 1.1. The terms and conditions of the Insurance must comply with the Minimum Terms and Conditions as and to the extent prescribed by the Regulations.
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paragraphs: 1.2. Any provision of the Insurance that is inconsistent with the Minimum Terms and Conditions shall either be severed from the terms of the Insurance or the Insurance shall be rectified so as to comply with the Minimum Terms and Conditions.
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paragraphs: 1.3. The Minimum Terms and Conditions shall always prevail in the event of a conflict between the terms and conditions of the Insurance and the Minimum Terms and Conditions and the Insurance must provide for same.
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paragraphs: 2. No cancellation
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paragraphs: 2.1. The terms of the Insurance must provide that the Insurance or coverage cannot be cancelled unless:
(a) the Firm’s Practice is merged into a Succeeding Practice provided that the Succeeding Practice has Insurance in compliance with the Minimum Terms and Conditions as and to the extent prescribed by the Regulations; or
(b) replacement Insurance complying with the Minimum Terms and Conditions as and to the extent prescribed by the Regulations commences (but only where any replacement Insurance is not or would not in the event of cancellation of the original Insurance be provided wholly or partly by the Special Purpose Fund).
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paragraphs: 2.2. The terms of the Insurance must further provide that any cancellation must not prejudice the accrued rights and obligations of the parties thereto as at the effective date of cancellation.
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paragraphs: 3. No avoidance or repudiation
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paragraphs: 4. Rights of Insurer
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paragraphs: 4.1. The Insurance may provide that the Insurer is entitled to recover any outstanding premium or additional premium amounts from the Firm in any circumstance where (but for the operation of clause 5.3) the Insurer would have been entitled to avoid or repudiate the Insurance.
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paragraphs: 4.2. The Insurance may further provide that, in any situation where the Insurer becomes aware that there has been fraudulent non-disclosure or fraudulent misrepresentation to the Insurer in connection with a placement or renewal of Insurance for a Firm, the Insurer may refer the conduct of any relevant Principal of that Firm to the Law Society to permit the Law Society to take action against that Principal under the Solicitors Acts 1954 to 2015 or otherwise.
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paragraphs: 5. No set-off
(a) that any indemnity amount payable to the Insured by the Insurer must be paid only to the relevant Claimant or as the Claimant may direct;
and
(b) that the Insurer is not entitled to set off against any such indemnity amount any payment owing to the Insurer by the Insured, including, without limitation, any payment of premium due to, or any payment required to be made by the Insured to reimburse, the Insurer.
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paragraphs: 6. No other policy to bar recovery
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paragraphs: 7. Contribution where Succeeding Practice exists
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paragraphs: 8. No denial or reduction
(a) any failure to notify a Claim or Circumstance within a prescribed period; or
(b) any breach of any term or condition of the Insurance; or
(c) any failure to pay any part of the premium in relation to the Insurance;
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paragraphs: 9. Coverage Period
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paragraphs: 10. Contesting Liability
6 EXCLUSIONS
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paragraphs: 1. No other exclusions
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paragraphs: 2. Death or bodily injury
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paragraphs: 3. Property
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paragraphs: 4. Previous cover
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paragraphs: 5. Fraud or dishonesty
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paragraphs: 6. Trading debts
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paragraphs: 7. Partnership Agreement
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paragraphs: 8. Solicitors Acts 1954–2015/Legal Services Regulation Act 2015
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paragraphs: 9. Insured acting as their own lawyer
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paragraphs: 10. Claims/Exposure to risk outside Ireland
(a) the provision of Legal Services by an Insured otherwise than from an establishment within the State; or
(b) any advice given or action taken or omitted to be taken by the Insured in relation to any law other than the law of the State (for this purpose the law of the State includes European Union law where the same forms part of the law of the State).
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paragraphs: 11. Employment
(a) a wrongful dismissal; or
(b) any other alleged or actual breach, or any other relief in respect of any contract of employment (including but not limited to a stress related claim brought by an Employee against a Firm where such claim arises out of the employment relationship between that Employee and the Firm), where such dismissal or breach is alleged or such relief is sought against the Insured.
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paragraphs: 12. Contracts
(a) wrongful termination by the Insured of; or
(b) any other actual or alleged breach by the Insured of; or
(c) any other relief claimed against the Insured;
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paragraphs: 13 Directors’ liability
(a) the Insurance must cover any liability of that person which arises from a breach of duty in the performance of or failure to perform Legal Services; and
(b) the Insurance must cover each other Insured against any vicarious or joint liability.
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paragraphs: 14 War, Terror, Asbestos, Radiation
(a) war, riot, civil commotion and other hostilities; and
(b) terrorism; and
(c) asbestos or any actual or alleged asbestos related injury or damage involving the use, presence, existence, detection, removal, elimination or avoidance of asbestos or exposure to asbestos; and
(d) ionising radiation or contamination by radioactivity from any nuclear fuel or from any nuclear waste from the combustion of nuclear fuel; or from the radioactive, toxic, explosive, or other hazardous properties of any explosive nuclear assembly or nuclear component thereof;
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paragraphs: 15. Undertakings to Financial Institutions in respect of Commercial Property Transactions
(a) Undertakings to Financial Institutions in respect of Commercial Property Transactions before 1 December 2009.
The Insurance may exclude the liability of the Insurer to indemnify all Insureds under the relevant Insurance in respect of Claims arising directly or indirectly as a result of the provision by any Insured of a Relevant Undertaking in the course of a Commercial Property Transaction, before 1 December 2009, to a Financial Institution or to any director, officer, employee, agent or advisor of a Financial Institution, where:-
(i) the Relevant Undertaking was given by that Insured (acting either for a client borrower alone, or for a client borrower and a Financial Institution jointly) in connection with the provision by the relevant Financial Institution of financial accommodation to that Insured’s client to permit that client to effect the relevant Commercial Property Transaction; and
(ii) such Claims are made by a Financial Institution; and
(iii) to the extent that the Insurer can demonstrate (and for the avoidance of doubt, the burden of proof in this regard shall rest with the Insurer) any civil liability or related Defence Costs arise from any dishonest, fraudulent, criminal or malicious act or omission by that Insured, or any acts or omissions which were done by that Insured knowing them to be wrongful.
For the avoidance of doubt, nothing in this clause 6.15(a) shall be construed to permit liability to be excluded in circumstances where any Relevant Undertaking is provided to a Financial Institution in the course of the Insured’s sole representation of that Financial Institution as the Insured’s own client.
(b) Undertakings to Financial Institutions in respect of Commercial Property Transactions on or after 1 December 2009 but before 1 December 2010.
The Insurance may exclude the liability of the Insurer to indemnify all Insureds under the relevant Insurance in respect of Claims arising directly or indirectly as a result of the provision by any Insured of a Relevant Undertaking in the course of a Commercial Property Transaction, on or after 1 December 2009, to a Financial Institution or to any director, officer, employee, agent or advisor of a Financial Institution, where the Relevant Undertaking was given by that Insured (acting either for a client borrower alone, or for a client borrower and a Financial Institution jointly) in connection with the provision by the relevant Financial Institution of financial accommodation to that Insured’s client to permit that client to effect the relevant Commercial Property Transaction.
For the avoidance of doubt nothing in this clause 6.15(b) shall be construed to permit liability to be excluded in circumstances where any Relevant Undertaking is provided to a Financial Institution in the course of the Insured’s sole representation of that Financial Institution as the Insured’s own client.
(c) Undertakings in breach of the Commercial Property Regulations on or after 1 December 2010.
The Insurance may exclude the liability of the Insurer to indemnify all Insureds under the relevant Insurance in respect of Claims arising directly or indirectly as a result of any Insured acting in breach of the Commercial Property Regulations.
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paragraphs: 16. Interpretation of Clause 6.15
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paragraphs: 17. Misrepresentation and Non-Disclosure
(i) that liability shall not be excluded on the grounds of innocent misrepresentation or innocent non-disclosure on the part of the Insured; and
(ii) where it is demonstrated (with the burden of proof resting on the Insurer) that any Insured was guilty of negligent misrepresentation or negligent non-disclosure and the Consumer Insurance Contracts Act 2019 applies to that Insurance, the provisions of Section 9(3) and 9(4) of the 2019 Act shall apply in respect of any negligent misrepresentation or negligent non-disclosure, save that an Insurer shall not be entitled to avoid or terminate the Insurance under any circumstances.
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paragraphs: 18. Financial Sanctions
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paragraphs: 19. Insolvency of Financial Institution
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paragraphs: 20. Cyber Protection
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paragraphs: 20.1. The Insurance may exclude liability of the Insurer to indemnify any Insured against any of the Insured’s own loss caused by and/or arising out of:
(a) a Cyber Act; and
(b) a partial or total unavailability or failure of any Computer System.
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paragraphs: 20.2. The Insurance may exclude liability of the Insurer to indemnify any Insured in respect of a Cyber Extortion Payment.
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paragraphs: 20.3. The Insurance may exclude liability of the Insurer to indemnify any Insured against any loss directly caused by, directly resulting from and/or directly arising out of the transmission of malware, malicious code or similar by the Insured or any other party acting on behalf of the Insured, provided that this exclusion shall not apply in respect of the loss or misappropriation of client moneys or any loss arising therefrom.
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paragraphs: 20.4. The Insurance may exclude liability of the Insurer to indemnify any Insured against any loss directly or indirectly caused by, resulting from and/or arising out of the failure or interruption of services relating to Core Infrastructure, provided that any such failure or interruption of services impacts a Computer System, provided that this exclusion shall not apply in respect of:-
(a) any failure or interruption of service caused by any actual or alleged negligent act, error or omission by the Insured; and/or
(b) the loss or misappropriation of client moneys or any loss arising from the said loss or misappropriation.
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paragraphs: 20.5. For the purposes of Clause 6.20, the following terms have the following meanings:
7 GENERAL CONDITIONS
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paragraphs: 1. General Conditions
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paragraphs: 2. Reimbursement
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paragraphs: 2.1. The Insurance may provide that each Insured who committed or condoned an innocent or negligent non-disclosure or misrepresentation or other innocent or negligent breach of the terms and conditions of the Insurance will reimburse the Insurer to the extent that is just and equitable and to the extent that is permitted under the Consumer Insurance Contracts Act 2019 (once enacted and if applicable), having regard to the prejudice caused to the Insurer’s interests by such non-disclosure, misrepresentation or breach, provided that no Insured shall be required to make any such reimbursement to the extent that any such breach of the terms or conditions of the Insurance was in order to comply with any applicable rules or codes laid down from time to time by the Law Society.
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paragraphs: 2.2. The Insurance may provide that each Insured who committed or condoned a dishonest or fraudulent non-disclosure or misrepresentation or other dishonest or fraudulent breach of the terms and conditions of the Insurance will be required to indemnify the Insurer in full in respect of any sums paid by it in or in connection with the discharge of any Claim pursuant to the Insurance.
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paragraphs: 2.3. The Insurance must provide that no non-disclosure, misrepresentation, breach, dishonesty, act or omission will be imputed to a company unless it was committed or condoned by, in the case of a company, all directors and officers of that company.
num: 7
paragraphs: 2.4. The Insurance must provide that any right of reimbursement contemplated by this clause 7.2 against any Employee, each former Employee, and each person who becomes an Employee of the Firm during the Coverage Period, or their personal representatives, is limited by Section 123 of the Legal Services Regulation Act 2015 , in the event that same is applicable, and to the extent that is just and equitable having regard to the prejudice caused to the Insurer’s interests by that person having committed or condoned (whether knowingly or recklessly) dishonesty or any fraudulent act or omission.
num: 7
paragraphs: 3. Reimbursement of Defence Costs
num: 7
paragraphs: 4. Reimbursement of the Self-Insured Excess
num: 7
paragraphs: 5. Reimbursement of monies paid pending dispute resolution
num: 7
paragraphs: 6. Claims Reports
num: 7
paragraphs: 6.1. a summary of each Claim of which the Insurer is aware made against the Firm under each Policy; and
num: 7
paragraphs: 6.2. the amount reserved by the Insurer against each Claim; and
num: 7
paragraphs: 6.3. the basis on which each such amount is calculated (for example, whether the figure represents a loss actually incurred, an estimate of probable maximum loss, or any other basis of reserving); and
num: 7
paragraphs: 6.4 whether or not each such amount includes Defence Costs; and
num: 7
paragraphs: 6.5. whether each such amount includes or is in excess of the amount of any Self-Insured Excess that may apply in relation to such Claim, and the amount of any such Self-Insured Excess; and
num: 7
paragraphs: 6.6. any amounts paid out in relation to each Claim, in each case indicating whether such sums include any Self-Insured Excess due from but not paid by the Firm.
num: 7
paragraphs: 7. In providing Claims Reports, the Insurer shall use its reasonable endeavours to provide all of the information set out in clause 7.6, but shall not be required to provide any part of that information to the extent that doing so would not be reasonably practicable having regard to the manner in which Claims information is stored on the computer systems of the Insurer.
8 DISPUTE RESOLUTION
num: 8
paragraphs: 1. Arbitration
(i) The subject matter of the dispute or claim the subject matter of the arbitration; and
(ii) The parties to the arbitration; and
(iii) The nature of the reliefs sought; and
(iv) Whether a Direction has been sought and/or granted; and
(v) A summary of the final decision of the arbitrator.
num: 8
paragraphs: 2. Related Disputes
num: 8
paragraphs: 3. Conduct of Claims