Guide

PII renewal checklist for law firms

Annual checklist to verify your firm's PII renewal is on track. Covers claims history, risk management review, insurer notification, SRA confirmation, cover verification, and run-off planning.

Professional & Financial Services UK-wide

Use this checklist to confirm your firm's annual PII renewal meets SRA requirements. Work through each section before the 1 October indemnity period start date.

  1. Obtained full claims summary from current insurer or broker for the past 6 years

  2. Identified all open claims, reserves, and outstanding notifications

  3. Recorded any new circumstances or near misses since last renewal

  4. Confirmed all material facts are ready for disclosure to prospective insurers

  1. Reviewed and updated file supervision and review procedures

  2. Confirmed complaints handling procedure is current and documented

  3. Checked anti-money laundering controls are up to date

  4. Verified cyber security measures and data protection compliance

  5. Documented any changes to practice areas or fee income mix

  1. Approached the market at least 3 months before 1 October

  2. Confirmed all prospective insurers are on the SRA qualifying insurers list

  3. Obtained at least 2 comparable quotations

  4. Compared premium, excess, endorsements, and insurer financial strength

  5. Checked policy wording complies with SRA Minimum Terms and Conditions

  1. Bound new policy before 1 October indemnity period start

  2. Confirmed insurer has notified the SRA that cover is in place

  3. Verified firm's PII status on the SRA website shows as current

  4. Updated terms of engagement and client-facing documents with new insurer details

  1. Confirmed run-off cover position with insurer in case of future closure or merger

  2. Noted 6-year run-off obligation under SRA Minimum Terms

  3. Recorded run-off cover cost estimate for succession or closure planning

If you answered 'no' to any item under binding cover and SRA confirmation, act immediately. Operating without qualifying PII is a serious regulatory breach. The SRA can intervene in your practice and will publish details of firms without cover.

Get SRA authorisation for your law firm

How to apply to the Solicitors Regulation Authority for authorisation to set up a law firm in England and Wales. Covers choosing your entity type, the mySRA application process, appointing compliance officers, fees, and expected processing times.

Read guide

Understanding legal services regulation in the UK

How the regulation of legal services works in England and Wales under the Legal Services Act 2007. Explains the role of the Legal Services Board, approved regulators, reserved legal activities, and the regulatory objectives that shape how law firms and individual lawyers are supervised.

Read guide

Respond to an SRA investigation of your law firm

What to do when the SRA investigates your firm. Covers types of investigation, your cooperation obligations under the Code of Conduct, obtaining specialist regulatory defence representation, and how to respond to conditions, fines, referral to the Solicitors Disciplinary Tribunal, and intervention. Includes appeal rights and escalation scenarios.

Read guide

Manage client money under SRA Accounts Rules

Set up and manage a client account to comply with the SRA Accounts Rules 2019. Covers what counts as client money, when to pay money in and out, reconciliation procedures, residual balances, record keeping, and the accountant's report requirement. Applies to all SRA-authorised firms in England and Wales.

Read guide

Client account reconciliation: quick reference

Quick reference for client account reconciliation obligations under the SRA Accounts Rules 2019. Covers five-weekly reconciliation requirements, central record keeping, SRA reporting triggers, accountant's report deadlines, and COFA responsibilities.

Read guide