Invitation to tender for the 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. The Master Policy entered its 45th full insurance year in 2024/2025.  

Unlike the professional indemnity arrangements for Solicitors in England & Wales, where firms can purchase insurance from one of a number of ‘Participating Insurers’ (insurers that agree to minimum policy terms & conditions), solicitors in Scotland have the benefit of a Master Policy - a single policy which provides professional indemnity insurance cover for all law firms regulated by the Law Society of Scotland. 

With only very limited exceptions, all solicitor practice units in Scotland are required to be in the Master Policy. Find out more about the current Master Policy and the relevant rules on our website.

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. 

• Financial protection for practices, individual solicitors and their clients in Scotland. The Society’s Master Policy is considered by many as the jewel in Scotland’s consumer protection crown.
• It underpins client trust and provides unrivalled “run-off” cover in the UK. This provides cover for closed practices in perpetuity subject to any claims limit imposed by law, for as long as the Master Policy exists. Elsewhere in the UK, run-off cover is much more limited.
• The Master Policy provides fair and transparent pricing for all practices, who benefit from the collective purchasing power.
• The broker, who handles the claims, is held to account for agreed service levels by the Society through its dedicated Insurance Committee.

The tender process runs every five years for the administration and brokage 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.

The following three key requirements are required by all brokers who wish to participate in the tender:

• A dedicated Master Policy team based in Scotland from 1 January 2027.
• An online Master Policy renewal system for our member firms that is fully tested and operating from 1 July 2026. This must link seamlessly with a third-party financing option.
• A Risk Management CPD education programme.

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

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.