Professional Indemnity Insurance
All members holding a Practising Certificate must comply with chapter 7 of the Public Practice Regulations and ensure they are covered by their firm's PII policy.
The level of cover and other requirements are set out in the Public Practice Regulations.
Any member holding a Practising Certificate without appropriate PII is in breach of the Regulations and could be subject to regulatory or disciplinary action.
It is important that members/member firms start the renewal process early to ensure that they have continuous cover.
If you cannot obtain cover in the market you should review the procedures set out in Chapter 7 of the Public Practice Regulations and immediately notify CARB.
Practising Certificate holders will be required to confirm that they are covered by PII on the Practising Certificate Renewal Form. Member firms will be asked to submit evidence of PII with their Annual Return.
The Institutes Minimum Approved Policy Wording September 2010
Changes to PII minimum wording
PII RoI List of Participating Insurers January 2013
PII UK List of Participating Insurers January 2013