An indicative 2026 reference table.
The figures and wording in this reference are intended as a starting point for conversations between professional services firms and their PI brokers. They are not a substitute for checking the current rules published by each professional body.
Professional bodies change their minimum cover requirements, their qualifying insurer arrangements, and their wording requirements from time to time. Figures cited here are believed to be broadly accurate at the date of publication but the firm carries the responsibility for checking the current position with its own regulator before relying on them.
In particular:
Sliding scales (such as the RICS and ICAEW formulae) are summarised here in approximate terms. The actual scale and any thresholds, brackets and caps must be checked against the body’s current published table.
Some bodies set “adequate and appropriate” cover obligations rather than fixed minima. In those cases, the figure here is a common market starting point, not a regulatory floor.
A firm’s actual cover requirement is almost always higher than the minimum, driven by client contracts, the value of work in hand, the firm’s claims history and the partners’ commercial appetite for retained risk.
Verify every figure with the body before placing or renewing.
The table below uses the following columns:
Body — the regulator or professional body. Activity — the regulated or recognised activity. Indicative minimum cover — a broad starting figure or formula. Wording / structure — the key required features of the cover. Run-off — any specific requirement on cessation. Where to verify — the primary published source.
Body: Solicitors Regulation Authority (SRA) Activity: solicitors in England and Wales Indicative minimum cover: £2 million per claim for unincorporated and incorporated practices; £3 million per claim for limited liability bodies (LLPs and limited companies) — check current SRA Minimum Terms and Conditions Wording / structure: cover must be on the SRA Minimum Terms and Conditions, placed with a participating insurer Run-off: six years’ run-off cover on cessation, on the SRA Minimum Terms Where to verify: sra.org.uk — Professional Indemnity Insurance pages
Body: Architects Registration Board (ARB) Activity: registered architects in independent practice Indicative minimum cover: ARB Code requires “adequate and appropriate” cover; ARB guidance has commonly referred to a starting figure of around £250,000 for smaller practices Wording / structure: any qualifying insurer; cover must be adequate having regard to the work undertaken Run-off: ARB guidance addresses run-off; check current guidance for the period and trigger Where to verify: arb.org.uk — Code and Guidance Notes
Body: Royal Institute of British Architects (RIBA) Activity: chartered architects (separate from ARB registration) Indicative minimum cover: RIBA Code requires PI cover; guidance has historically been aligned with ARB minimums for smaller practices Wording / structure: refer to RIBA Code of Practice Run-off: refer to RIBA guidance Where to verify: architecture.com — RIBA Code
Body: Royal Institution of Chartered Surveyors (RICS) Activity: RICS-regulated firms Indicative minimum cover: sliding scale linked to gross fee income. For most smaller firms, this is in the region of £100,000 to £250,000 minimum; for larger firms with fee income above £200,000, the minimum scales upwards toward £1 million; for the largest firms, £1 million+. Cover must be from a RICS-listed insurer. Wording / structure: cover must be on the RICS minimum policy wording, placed with a listed insurer Run-off: six years’ run-off cover on cessation under the RICS rules Where to verify: rics.org — Regulation pages
Body: Institute of Chartered Accountants in England and Wales (ICAEW) Activity: ICAEW members in public practice Indicative minimum cover: 2.5 times gross fee income, subject to a floor (commonly £100,000) and a cap (commonly £1.5 million per claim) — check current ICAEW PI Regulations Wording / structure: cover must be from a participating insurer and on the ICAEW Minimum Approved Wording Run-off: two years’ run-off cover on cessation under the ICAEW PI Regulations Where to verify: icaew.com — Practice Assurance and PII pages
Body: Association of Chartered Certified Accountants (ACCA) Activity: ACCA members in practice Indicative minimum cover: typically 2.5 times gross fee income, subject to a floor of around £100,000 and a cap commonly set at £1.5 million per claim — check current ACCA Global Practising Regulations Wording / structure: cover must comply with ACCA’s PI rules Run-off: two years’ run-off cover on cessation under ACCA’s rules Where to verify: accaglobal.com — Member services and rulebook
Body: Association of Accounting Technicians (AAT) Activity: AAT licensed members Indicative minimum cover: minima commonly set at around £50,000 for smaller licensed members, with increases for higher fee income — check current AAT Licensing rules Wording / structure: refer to current AAT Licensing requirements Run-off: refer to AAT rules Where to verify: aat.org.uk — Licensed members
Body: Chartered Institution of Building Services Engineers (CIBSE) Activity: building services engineering consultancy Indicative minimum cover: PI is not mandated by CIBSE for all members. It is commonly required by clients and is recommended for firms in independent practice; a starting figure of £250,000 is common for very small firms with larger figures for substantive consultancies. Wording / structure: any qualifying wording; cover should reflect the work undertaken Run-off: not mandated by CIBSE; commercial decision Where to verify: cibse.org
Body: Institution of Structural Engineers (IStructE) Activity: structural engineering consultancy Indicative minimum cover: PI is not mandated by IStructE for all members; it is generally required by clients. Limits are driven by project value rather than a minimum body figure. Wording / structure: any qualifying wording Run-off: not mandated by IStructE; commercial decision Where to verify: istructe.org
Body: Institution of Civil Engineers (ICE) Activity: civil engineering consultancy Indicative minimum cover: PI is not mandated by ICE for all members; it is generally required by clients. The Association for Consultancy and Engineering and client contract terms are usually the practical driver. Wording / structure: any qualifying wording; project requirements vary Run-off: not mandated by ICE; commercial decision Where to verify: ice.org.uk
Body: Recruitment and Employment Confederation (REC) Activity: REC corporate members Indicative minimum cover: the REC Code requires PI cover; minimum limits are commonly cited at £1 million per claim, with larger limits required by many end-client contracts Wording / structure: cover should comply with the REC Code; check current Code requirements Run-off: not specifically mandated by the REC; commercial decision Where to verify: rec.uk.com — Code of Professional Practice
Body: Association of Residential Managing Agents (ARMA), now part of TPI Activity: leasehold property management Indicative minimum cover: the ARMA / TPI Consumer Charter and Standards require adequate PI cover; limits should reflect the value of property under management. Common starting figures for smaller firms are in the range of £500,000 to £1 million. Wording / structure: refer to current TPI Standards Run-off: refer to current TPI guidance Where to verify: tpi.org.uk — Standards
Body: Institute of Translation and Interpreting (ITI) Activity: translators and interpreters Indicative minimum cover: not mandated by ITI. Recommended by ITI; the practical figure is driven by the client and is commonly in the £250,000 to £1 million range for higher-stakes work. Wording / structure: any qualifying wording Run-off: not mandated Where to verify: iti.org.uk
Body: Chartered Institute of Linguists (CIOL) Activity: linguists Indicative minimum cover: not mandated by CIOL. Recommended; figures driven by client contracts. Wording / structure: any qualifying wording Run-off: not mandated Where to verify: ciol.org.uk
Body: Chartered Institution of Water and Environmental Management (CIWEM) Activity: water and environmental consultancy Indicative minimum cover: not mandated by CIWEM. Recommended; project and client driven. Wording / structure: any qualifying wording Run-off: not mandated Where to verify: ciwem.org
Body: Institute of Environmental Management and Assessment (IEMA) Activity: environmental management and assessment professionals Indicative minimum cover: not mandated by IEMA. Recommended; client and project driven. Wording / structure: any qualifying wording Run-off: not mandated Where to verify: iema.net
Body: Institution of Occupational Safety and Health (IOSH) Activity: occupational safety and health professionals Indicative minimum cover: not mandated by IOSH for individual members. Recommended for consultancies; client driven. Wording / structure: any qualifying wording Run-off: not mandated Where to verify: iosh.com
Body: International Institute of Risk and Safety Management (IIRSM) Activity: risk and safety management professionals Indicative minimum cover: not mandated by IIRSM. Recommended; client driven. Wording / structure: any qualifying wording Run-off: not mandated Where to verify: iirsm.org
Treat the table as a checklist of bodies, not as a fixed schedule of minima. The first action for any firm is to read the current published rules of its own body and to ask the broker to confirm that the placed cover complies with them.
If the firm is regulated by more than one body, the cover usually needs to satisfy the highest applicable minimum across all of them. A firm with both ICAEW and SRA-regulated work, for example, must satisfy the SRA Minimum Terms in respect of the legal work and the ICAEW PI Regulations in respect of the accountancy work, and the placed policy must do both.
If the firm relies on a body’s “adequate and appropriate” formulation, the firm should be in a position to explain in writing how it arrived at the limit chosen.
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Speak to Apex about your cover — 0117 325 0027 or info@apexinsurancebrokers.co.uk
Last reviewed: May 2026
Apex Insurance Brokers serves UK professional services firms and commercial businesses. Call 0117 325 0027, email hello@apexinsurancebrokers.co.uk, or request a quotation.
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