Master Policy brokerage tender

Are you aware of the opportunity to tender for the Law Society of Scotland brokerage and administration of the Master Policy 2027-2031?

The Law Society of Scotland Master Policy for Professional Indemnity Insurance ('Master Policy') is the compulsory professional indemnity policy for solicitors in private practice in Scotland.

Unlike the professional indemnity arrangements for solicitors in England & Wales, private practice solicitors in Scotland are covered by our Master Policy - a single policy which provides £2million professional indemnity insurance cover. With only very limited exceptions, all solicitor practice units in Scotland are required to be in the Master Policy. Details of the current Master Policy and relevant rules along with a breakdown of practice units can be found here:

Master Policy - professional indemnity insurance | Law Society of Scotland

Principal benefits

One benefit of a Master Policy is that it enables the broker for the Master Policy to negotiate robustly to obtain the best possible renewal terms for all practices, regardless of size. Other benefits include stability, transparency and fairness.

The tender process

The tender process runs every five years for the administration and brokerage of the Master Policy. The current contract concludes on the 31 December 2026, and we are now inviting brokers to submit a proposal for a five-year period commencing on 1 January 2027. Further information can be found here:

Tender for Master Policy 2027 - 2031 | Law Society of Scotland.

• Closing date for final tender submissions is noon on Thursday 24 April 2025. The interviews for shortlisted brokers will take place on 11th June 2025.  

To receive further information and the tender application please contact:
Fiona Paterson, Co-Secretary to Insurance Committee
Law Society of Scotland
MPtender@lawscot.org.uk
Tel: 0131 476 8166