The Practicing Certificate Sub-committee, a sub-committee of the Regulatory Committee, exercises the regulatory functions in relation to Professional Indemnity Insurance (PII). The remaining functions are exercised by the Insurance Committee, whose role is:
- To negotiate the commercial terms of the Professional Indemnity Insurance (PII) arrangements for those members in private practice via the insurance brokers with the insurers.
- To conduct the tender for the brokerage and administration of the Master Policy.
- To put in place a risk management programme for members via the brokers.
- To analyse risk affecting the Master Policy and make recommendations on mitigating measures.
- To review performance of the Master Policy.
- To consider and prepare for changes to the legal sector that impact the coverage and sustainability of the Master Policy.
- To liaise with the SLCC with respect to its oversight function of the PII arrangements for those members in private practice.
