Recognising that a standard office policy may be inadequate to cover the specific interest of ‘Barristers’, we researched the market and consulted several Heads of Chambers in order to design an insurance policy by Barristers for Barristers.
That was in 1990 when the original scheme was launched. This product has now been improved further and still provides cover for many of the “sets” that were attracted to the scheme at the outset.
The premium levels reflect that there can be contents within Chambers of a relatively high value, but which are unlikely to be ‘theft attractive’ or particularly vulnerable to other insured perils such as ‘Libraries’. The premium also acknowledges the general high standards of security and housekeeping.
Cover under this bespoke policy includes:
Property Damage including Barristers' own furniture, works of art or similar contents
(subject to policy limits)
Automatic Business Interruption cover for Increased Cost of Working which can be adapted to
Full Loss of Revenue
Automatic ‘All Risks’ cover for Wig, Gown, Clothing and Personal Effects including legal and
reference books (subject to policy limits)
No claim discounts where applicable
Premium discount for size
Definition of ‘insured’ to include not only ‘Chambers’ but also individual Barristers and Pupils.
Choice of Public Liability limits of indemnity between £2,000,000 and £10,000,000
The above is just a brief résumé of some of the benefits insured under the Scheme policy.
In addition we have extremely competitive rates for Buildings which has been popular where Barristers (or their Pension Fund) own the building they occupy.
Many insurance brokers place covers for clients on the open insurance market as a standard ‘office’ policy. Although this may adequately insure ‘Chambers’ they are not always suitable to cover the interest of the ’Barristers’.
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