Lockton reappointed as Master Policy brokers

The Law Society of Scotland has reappointed the world’s largest independent insurance broker, Lockton, to administer and broker its Master Policy for Professional Indemnity insurance from 1 January 2027.

The Master Policy covers all Scottish solicitors working in private practice, providing indemnity of up to £2 million for any claim where a solicitor is established to have been negligent and in breach of their duty of care to a client.

A competitive tender process is conducted for the Master Policy every five years, with Professional Indemnity insurance brokers invited to submit a full-service proposal, which was then ranked through a shortlisting and interview process.

Lockton has managed the Master Policy since 2017 and works with specialist insurers on an annual basis to secure competitive terms and administers renewals in line with the Law Society’s standards.

The Chief Executive of the Law Society of Scotland, Ben Kemp, said: “We are pleased to have extended our relationship with Lockton for another five years. Our Master Policy provides an important safeguard for clients of solicitors in the rare circumstances where things go wrong.

“Lockton demonstrated through the tender process that they remain the best fit for us in terms of capacity, in-depth understanding of the legal sector, and in providing a cost-effective brokerage solution for the profession.

“When reapplying for cover at the end of this year, please be assured that this won’t affect your ability to submit an application. The claims service will be similarly uninterrupted.”

Lorraine Boyle, Edinburgh-based Partner, Lockton, added: “The Lockton team are proud to have been reappointed by the Law Society of Scotland to continue brokering its Master Policy on behalf of Scotland's legal profession, following a rigorous tender process.

“This reappointment reflects the depth of our specialist legal sector expertise, commitment to service excellence, and the trust we have built with the profession over the last decade. The continuity of the Master Policy provides an important safeguard for solicitors and their clients, and we look forward to continuing our close partnership with the Society and its members throughout the next five-year term.”