Lockton Solicitors PII Market Report 2026
Lockton’s Solicitors’ Professional Indemnity Insurance Market Report highlights insurance trends in the legal sector, sharing how law firms can navigate risks, evolving regulations and AI dangers
The professional indemnity insurance (PII) market for Solicitors Regulation Authority (SRA)-regulated practices continues to evolve at pace, shaped by changing insurer appetites, an increasingly sophisticated buyer base, and a legal sector that continues to demonstrate resilience and growth.
This review has been prepared to provide law firms with practical insight into the current PII landscape. Drawing on our extensive placement activity and market intelligence, we examine the key developments influencing purchasing decisions and insurer behaviour — helping firms understand how their own arrangements compare with those of their peers.
In our report, we analyse:
- Renewal patterns across the profession from June 2025 to May 2026, including the continued concentration of renewals around both April and October, where just under two-thirds of firms continue to renew.
- The increase in multiple insurers participating on primary insurance layers, reflecting both market capacity and the desire for greater flexibility and resilience in programme design.
- Analysis of fee income growth across the legal sector and the implications this has for risk exposure, insurer appetite, and purchasing strategies.
- Current claims trends and the emerging risk issues affecting law firms, together with practical observations on risk management and governance that can support stronger insurance outcomes.
