Adequate and appropriate insurance

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Adequate and appropriate indemnity insurance - Guidance

Guidance: To help you understand your requirement to take out and maintain professional indemnity insurance that provides adequate and appropriate cover in respect of services you provide.

Adequate and appropriate indemnity insurance - Case studies

Case studies: This case study should be read in conjunction with the guidance on adequate and appropriate indemnity insurance.

Glossary terms

authorised body


  1. a body that has been authorised by the SRA to practise as a licensed body or a recognised body; or
  2. a sole practitioner's practice that has been authorised by the SRA as a recognised sole practice

means the person for whom you act and, where the context permits, includes prospective and former clients

in the SRA Financial Services (Scope) Rules, in relation to any regulated financial services activities carried on by an authorised body for a trust or the estate of a deceased person (including a controlled trust), means the trustees or personal representatives in their capacity as such and not any person who is a beneficiary under the trust or interested in the estate