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Minimum terms and conditions

Updated 1 October 2013

Current minimum terms and conditions

The Minimum terms and conditions 2013 came into effect on 1 October 2013. They are published as Appendix 1 of the SRA Indemnity Insurance Rules 2013, in the SRA Handbook.

The minimum terms and conditions express the minimum coverage firms must have in respect of their regulated business. Qualifying insurers are free to issue their own policy terms so long as they provide at least the coverage set out in the minimum terms and conditions 2013.

Previous minimum terms and conditions

Minimum terms and conditions 2012

Previous minimum terms and conditions (2011 and earlier)

As a safety net for the public and for firms, qualifying insurers have committed to the SRA that the coverage set out in the minimum terms and conditions will apply as a minimum, regardless of the wording of the policy actually issued.