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.