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.

EnglandWales Updated 1 Apr 2026

Use this checklist to confirm your firm's annual PII renewal meets SRA requirements. Work through each section before your firm's renewal date (1 October for most firms, by market convention).

Claims history and notifications

Obtained full claims summary from current insurer or broker for the past 6 years
Identified all open claims, reserves, and outstanding notifications
Recorded any new circumstances or near misses since last renewal
Confirmed all material facts are ready for disclosure to prospective insurers

Risk management review

Reviewed and updated file supervision and review procedures
Confirmed complaints handling procedure is current and documented
Checked anti-money laundering controls are up to date
Verified cyber security measures and data protection compliance
Documented any changes to practice areas or fee income mix

Insurer selection and quotation

Approached the market at least 3 months before your renewal date (1 October for most firms)
Confirmed all prospective insurers are on the SRA qualifying insurers list
Obtained at least 2 comparable quotations
Compared premium, excess, endorsements, and insurer financial strength
Checked policy wording complies with SRA Minimum Terms and Conditions

Binding cover and SRA confirmation

Bound new policy before your current policy expiry date
Confirmed insurer has notified the SRA that cover is in place
Verified firm's PII status on the SRA website shows as current
Updated terms of engagement and client-facing documents with new insurer details

Run-off cover planning

Confirmed run-off cover position with insurer in case of future closure or merger
Noted 6-year run-off obligation under SRA Minimum Terms
Recorded run-off cover cost estimate for succession or closure planning

Legal basis

Official guidance

SRA Indemnity Insurance Rules (opens in a new tab)

Full text of the SRA rules including the Minimum Terms and Conditions

www.sra.org.uk

SRA Standards and Regulations (opens in a new tab)

Complete SRA regulatory framework including qualifying insurer requirements

SRA

Law Society of Northern Ireland (opens in a new tab)

lawsoc-ni.org

Law Society of Scotland regulation and compliance (opens in a new tab)

PII renewal checklist for law firms

Claims history and notifications

Risk management review

Insurer selection and quotation

Binding cover and SRA confirmation

Run-off cover planning

Legal basis

Official guidance

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Understanding legal services regulation in the UK

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