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PII - limit of indemnity

What is the limit of indemnity?

Minimum level of indemnity based on the firm's turnover in the previous year (or estimated for a new firm)

Firm's turnover in the preceding year Minimum limit of indemnity
£100,000 or less £250,000
£100,001 to £200,000 £500,000
£200,001 and above £1,000,000

In order to manage their risk adequately, some firms may wish to hold a higher level of indemnity.

Next page: PII - basis of cover