Keystone's professional indemnity insurance cover is provided by A-rated insurers. The limit of cover is £60 million per claim or series of claims. This cannot be increased for specific transactions ad hoc, though it is reviewed annually and increased on a firm-wide basis where appropriate to do so. If you have a concern over the adequacy of our cover, then you should contact the Director of Operations and Compliance.
Our Terms of Engagement limit our liability to £5 million. For certain matters, subject to an appropriate fee being charged to the client, we can agree to increase the limit of our liability. If you feel you have to entertain increasing our liability you must contact the Director of Operations and Compliance for consent. You will need to provide analysis as to the quantum of possible liability, how it can arise and the chances of it arising. It will also be relevant to know what you believe will happen to our instructions if we do not agree to bear greater liability. You should also note that an increase in liability should be accompanied by an increase in our fees.
This PI Insurance covers all work undertaken by Keystone personnel, in the name of the firm, including public speaking and marketing engagements.
Any circumstance that might lead to a claim must be reported without delay to the General Counsel. It is best initially to pick up the telephone then to follow that up with an email. You should note that failing to report a claim in good time can invalidate our insurance and lead to you becoming personally liable.
You may be asked to provide proof of our insurance cover by clients. If so, you can provide them with this letter from our broker.