Obelisk is an Alternative Legal Services Provider (ALSP) and as such is not regulated by the Solicitors Regulation Authority (SRA) and is not required to hold professional indemnity insurance. However, we believe that the alternative legal services that we provide should offer the same peace of mind as a law firm, and so we hold comprehensive solicitors’ professional indemnity insurance to protect our clients and consultants. All of our legal professionals who do not hold their own policies are covered by this insurance.
Policy scope
Obelisk Support provides professional indemnity insurance, free of charge, to its consultants while on assignment, i.e. in respect of legal support services carried out for and on behalf of Obelisk Legal Support Solutions Ltd.
The policy covers loss up to £2 Million GBP and automatically applies unless you hold your own policy. No formal opt-in is required. If further details of the policy are required, please let us know.
The excess is £15,000 GBP which is payable by you for each and every claim made under the policy. The excess is non-negotiable. If you become aware of a client or third parties’ intention to bring a claim against you or Obelisk Support, you must notify Obelisk Support immediately so that we can contact our insurer.
You are free to seek your own PII policy at any time before or during an assignment, however we cannot provide any financial advice relating to an insurance policy.
Exclusions
Our policy provides worldwide coverage but excludes any work which is undertaken within the United States or Canada. If you are working from either of these territories, please ensure that you seek independent financial advice to obtain a suitable policy for yourself.
Other exclusions:
- Regulated legal advice under the Legal Services Act 2007
- Claims arising from the dishonest or fraudulent acts or omissions of our consultants
- Money laundering claims
- Any loss or damage caused by a cyber act or failure of a computer system owned by our consultants.
Please note that this guidance is subject to the policy terms and conditions and Obelisk Support cannot guarantee how the insurance provider will respond to any given claim scenario. Full details of our policy are available on request.
