The Scheme, which carries exactly the same coverage as the existing PI Master Policy for Licensed Conveyancers, is provided by Lloyds of London insurers. The Scheme is open to all Licensed Conveyancer firms, whether SLC members or not. Firms are encouraged to submit their 2015 proposal form (that which has been/is being submitted to the Master Policy providers will be acceptable) and any up to date claims information to Paul.Crilly@rkhis.com.
Quotations by RKH show two premiums, the full premium and a discounted premium for firms where all their Licensed Conveyancers are members of SLC. Quotes are being turned around in just a few days and are understood to be very competitive. Once a firm has a quote and wishes to move to the next stage in the process they need to obtain an Alternative PII Application Form from the Council for Licensed Conveyancers (CLC) for their approval. These forms can be obtained from firstname.lastname@example.org and provided the completed forms and supporting documentation are received by 16th June 2015, the CLC will make their approval determination by 30th June 2015.
Read the full Today's Conveyancer article here