Aon offers indemnity package to CQS and Lexcel firms
Quality schemes represent 'reduced risk, effective practice management and a client care focus'
Insurance giant Aon is to provide indemnity insurance to firms with the CQS or Lexcel quality marks for a second year, the Law Society has announced.
A spokesman for the society said firms who used the service could get access to quotes in time for this year’s renewals and Aon had “exclusive access” to insurers for firms with up to ten partners.
Law Society President Lucy Scott-Moncrieff said the society was “keen to help exploit every aspect of a firm’s risk profile” to its advantage.
“CQS and Lexcel represent reduced risk, effective practice management and a client care focus,” she said. “This should give an advantage in the renewal process, if reflected in the firm’s claims record.
“For CQS and Lexcel firms this is an added benefit that could make a noticeable impact on premiums this year. There are clear advantages to having CQS and Lexcel and this is just one of them.”
The society spokesman said Aon, as broker, had an exclusive arrangement with two of the largest qualifying insurers for one to ten partner firms.
“Both insurers are prepared to look favourably on CQS and/or Lexcel firms as part of their usual underwriting process. Each firm will still be individually underwritten based on their risk profile and claims history.”
Andrew Gough, divisional director at Aon’s professional services group, added: “Aon has always recognised the value of good quality assurance and risk management practices for law firms, with the Law Society quality marks as the benchmark.
“We have worked with our personal injury insurers to be able to give the special consideration to Lexcel and CQS accreditation, and are proud to be endorsed by the Law Society for CQS and Lexcel firms this year.”
In an article for today’s Solicitors Journal, leading quality scheme critic Howard Salter said CQS should be renamed ‘Conveyancing Checking Boxes Scheme’.