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Cost
We wanted the UK Register of Expert Witnesses Professional Indemnity Insurance scheme to provide top-quality cover and highly competitive rates. To keep things simple, there is a streamlined application process to apply for cover up to £2,000,000 where your expert witness fee income is less than £200,000. In those circumstances, the costs would be as follows:
| |
|
Annual
premium* |
Limit of
Indemnity |
|
Fee Income
less than £100,000 |
|
Fee Income between
£100,000 and £200,000 |
| £500,000 |
|
£190.00 |
|
£225.00 |
| £1,000,000 |
|
£220.00 |
|
£250.00 |
| £2,000,000 |
|
£270.00 |
|
£295.00 |
* excludes Insurance Premium Tax
On top of the premium, Lockton will charge an administration fee no greater than £40.00 to cover costs such as the processing of the payment, postage and preparing the policy documentation.
However, if you have a higher fee income, you can still seek to take cover under the UK Register of Expert Witnesses Professional Indemnity Insurance scheme. Instead of the streamlined application process, you will need to contact Lockton who will negotiate competitive cover terms specifically for you. Equally, if you want to cover all your work, not just forensic work, you should speak with Lockton. In both situations you can expect your total fee income and any existing PI insurance premium to have an influence on the final premium offered.
 Tell me how to apply...
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