Professional & Financial Services UK-wide

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.

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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).

  1. 1

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

  2. 2

    Identified all open claims, reserves, and outstanding notifications

  3. 3

    Recorded any new circumstances or near misses since last renewal

  4. 4

    Confirmed all material facts are ready for disclosure to prospective insurers

  1. 1

    Reviewed and updated file supervision and review procedures

  2. 2

    Confirmed complaints handling procedure is current and documented

  3. 3

    Checked anti-money laundering controls are up to date

  4. 4

    Verified cyber security measures and data protection compliance

  5. 5

    Documented any changes to practice areas or fee income mix

  1. 1

    Approached the market at least 3 months before your renewal date (1 October for most firms)

  2. 2

    Confirmed all prospective insurers are on the SRA qualifying insurers list

  3. 3

    Obtained at least 2 comparable quotations

  4. 4

    Compared premium, excess, endorsements, and insurer financial strength

  5. 5

    Checked policy wording complies with SRA Minimum Terms and Conditions

  1. 1

    Bound new policy before your current policy expiry date

  2. 2

    Confirmed insurer has notified the SRA that cover is in place

  3. 3

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

  4. 4

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

  1. 1

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

  2. 2

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

  3. 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. If cover lapses you enter a 30-day extended policy period followed by a 60-day cessation period, after which the firm must cease practice; the SRA can also intervene in your practice.

Official guidance