30.8% Reduction in PII Premiums since 2022

Premiums have fallen for three consecutive years—down 30.8% since 2022, with the 2025 premium pool at its lowest since 2019. This followed significant premium increases from 2019–2021 due to global insurance market pressures.

The Law Society succeeded in reducing solicitor PII premiums by:

1. reinforcing the Irish solicitors’ PII market as low risk for insurers;
2. stabilising market conditions and signalling quality through MTCs and professional standards;
3. active engagement with incumbent and prospective insurers to sustain and expand capacity; and
4. attracting new insurers to the market, with a focus on insurance for smaller firms.

These measures brought Irish solicitors’ PII from a hard to a stable market. We are working to ensure that increased insurer capacity and new entrants should maintain downward pressure on premiums.

All information, guidance and forms are on the PII area of lawsociety.ie.

Tips for renewal

Preparing early is important.

1. Financing your premium

   Put financing PII premiums at the top of your to do list, including use of savings or obtaining the necessary loan facilities. You can finance payment for your PII premium, income tax, pension contributions or practising certificate fees through the Law Society’s annual Finance Scheme, which we intend to run for 2025/2026.

   Also ask your broker for assistance negotiating staggered premium payments with your insurer.

2. Make your broker work for their commission

   Keep in mind that brokers are providing you with a service and you are their client. They should be acting as your advocate, advisor and champion in the market. A good broker will not redirect you to the Law Society for assistance in obtaining insurance, as this is the role of the broker.

   Ask your broker what fees they get for placing your insurance, what services they will provide you for that fee, and agree acceptable service levels with them in advance of the renewal. Remember, as the client, you are entitled to demand good quality service from your broker.

3. Do not rely on just one broker

   The firms that reported the greatest reduction in premium in the last three years were those that shopped around. Brokers usually have access to only two or three insurers in the market. To maximise your chances of affordable cover, send your common proposal form to all insurers in the market, with the exception of insurers that do not cover your type of firm. Even if you have been with an insurer for years, they could change their underwriting criteria leaving you without cover unless you have a back-up.

4. Apply early

   Insurers have limited capacity and so will have a maximum number of firms that they are willing to cover. You should apply as early as possible to ensure that you obtain a quote before the insurers close their books, even if you have been with your insurer for a number of years. The common proposal form and guidance have been published on the PII area of the Law Society’s website.

5. Option of variable renewal dates

   You do not have to renew your cover on 1 December if you avail of variable renewal dates, permitted since 2011. Check with your broker whether they are right for you. Be warned that you may receive a higher quote outside of the downward pressure of the usual renewal period, and insurers may not be willing to write cover mid-year due to limited capacity. Even if you have variable renewal dates, your broker is still required to reconfirm your PII cover within 3 working days of 1 December annually.

6. First party cyber cover

   Your mandatory PII automatically provides third party civil liability cyber cover as part of the Minimum Terms and Conditions (MTCs). It does not provide first party cover for your losses in the event of a cyberattack. You should discuss the possibility of obtaining separate first party cyber cover with your broker as it should act to protect you from such losses and also give you access to experts to rectify IT gaps and Public Relations issues after a cyberattack. Such cover also makes your firm much more attractive to insurers as it is seen as good risk management.

7. Statutory deadline to confirm cover

   It is the responsibility of each firm to ensure that you have PII in place before the mandatory renewal date of 1 December 2025. Confirmation of PII cover must be provided through the Law Society’s online PII portal by your broker within 3 working days of 1 December 2025 (on or before close of business on 5 December 2025).

8. Assigned Risks Pool

   In the unlikely event that you are unable to obtain cover in the market as an existing firm, you can apply to the Assigned Risks Pool (ARP) as the insurer of last resort. The ARP is managed by the Special Purpose Fund Manager DWF Claims (Ireland) Limited. The deadline for application to the ARP is 30 January 2026.

9. Cessation - Run-off Cover

   If you are considering closing your firm, make an application to the Run-off Fund for run-off cover no later than60 days before your date of cessation. These applications should be made to DWF Claims (Ireland) who manage the fund.

Further information

• Find information on the renewal, including guidance and forms at lawsociety.ie/PII.
• The list of insurers and brokers will be published shortly after 1 November 2025.
• Contact the Law Society’s PII helpline on 01 879 8707 or email piihelpline@lawsociety.ie.
• Contact the Special Purpose Fund Manager DWF Claims (Ireland) Limited at SPF@dwfclaims.comor by phone at 01 790 9400.