Firms with Conveyancing Quality Scheme (CQS) and Lexcel accreditation will be able to take advantage of reduced professional indemnity insurance premiums, following a deal agreed between the Law Society and broker Hera Indemnity. Law Society chief executive Des Hudson said: ‘There has been anecdotal evidence that Lexcel can reduce PII premiums for firms, and even though it is in its infancy some insurers are already discounting premiums for CQS firms.

‘It therefore makes sense that the Law Society capitalises on this trend on behalf of its members and provides a facility which explicitly acknowledges the advantages CQS and Lexcel provides to firms from a PII perspective.’

He said client care is at the heart of both CQS and Lexcel, and that as well as having the potential to reduce PII premiums, the schemes reduced risks and indicated high standards in law firms. Senior consultant at Hera Indemnity, Nick Pointon, said: ‘We are delighted to have been selected to run the Lexcel and CQS facility and expect premiums to be extremely competitive for scheme members.’

CQS and Lexcel firms will not need to fill out further forms to obtain a quotation but can call the hotline on 0207 959 2449 or email a scanned version of a proposal form that they have already completed to lexcel@heraindemnity.co.uk or cqs@heraindemnity.co.uk.