Calculator · Regulator minimum PI limits · UK

Professional indemnity minimum limit calculator

Pick your regulator, enter your fee income or turnover, and get the minimum limit the rules require — with the rule reference, the excess cap and the date we last checked it.

Part of: Professional indemnity insurance at Apex

In short

This calculator applies the current published minimum professional indemnity requirements of the SRA (£2m or £3m by structure), ICAEW (£2m, or 2.5 times gross fee income with a £250,000 floor below £800,000), ACCA (2.5 times income or £100,000 below £600,000; £1.5m above), AAT (2.5 times fee income with £50,000 or £100,000 floors and a £1m cap above £400,000), RICS (£250,000, £500,000 or £1m by turnover), ARB (£250,000 each and every claim), and the FCA’s MIPRU 3.2 and IPRU-INV 13 rules for insurance intermediaries and personal investment firms (€1,300,380 single claim and €1,924,560 aggregate for IDD intermediaries). Each answer shows the rule it comes from and the date it was checked. It is a floor, not advice: contracts and your largest engagement usually require more.

Calculate

Who regulates you?

Legal structure

Structure

Gross fee income (last full year), £

Do you hold client money?

Is the firm an insurance intermediary under the IDD (most advisers who also arrange protection or insurance-based investments are)?

Euro to sterling rate (fetched live; edit if you prefer)

The rules behind the numbers

SRA: Minimum Terms and Conditions clause 2.1 — £3m any one claim for relevant recognised bodies and licensed bodies, £2m for all other firms; six years’ run-off; extended policy period 30 days and cessation period 60 days if you cannot renew.
ICAEW: PII Regulations effective 1 September 2024 — £2m any one claim and in the aggregate; firms under £800,000 gross fee income may hold 2.5 times fee income with a £250,000 minimum; aggregate excess capped at the higher of £3,000 or 3% of fee income; participating insurer required.
ACCA: PII Regulations effective 1 September 2023 — below £600,000 income, the greater of 2.5 times relevant total income and £100,000; £600,000 and above, at least £1.5m; uninsured excess restricted to £20,000 per principal.
AAT: the greater of 2.5 times gross fee income and £50,000 (sole traders) or £100,000 (partnerships and companies); above £400,000 fee income the maximum required is £1m.
RICS: requirements version 11, effective 1 July 2025 — £250,000 / £500,000 / £1m by turnover band; excess no more than the greater of 2.5% of the sum insured and £10,000; RICS-listed insurer; full civil liability wording; six years’ run-off.
ARB: guidance minimum of £250,000 each and every claim; six years’ run-off on cessation (five in Scotland).
FCA MIPRU 3.2.7R: insurance intermediaries — €1,300,380 single claim; aggregate the higher of €1,924,560 and 10% of annual income, capped at £30m; excess caps of £2,500/1.5% (no client money) and £5,000/3% (client money).
FCA IPRU-INV 13: personal investment firms — €1,300,380 / €1,924,560 where the firm is an IDD intermediary (13.1.10R); £500,000 / £500,000 up to £3m relevant income and £650,000 / £1m above (13.1.13R) where it is not; excess above £5,000 needs additional capital (13.1.25R).

All figures checked against the regulators’ published rules on 6 September 2026. Rules change; if you find a figure that has moved, tell us and we will update the calculator the same day.

Why the minimum is rarely enough

Every figure above is a regulatory floor. A conveyancing firm at £2m, an architect at £250,000 or an IT consultancy with no regulator at all will usually find that a client contract, a lender panel, a framework lot or a single large engagement demands more. The floor tells you what you must hold; the work tells you what you should. How much professional indemnity insurance do you actually need?

Frequently asked

Is this calculator advice?

No. It applies the regulators’ published minimum figures to the numbers you enter. Whether the minimum is enough for your firm depends on your contracts and your work, which is a conversation with a broker.

How often are the figures checked?

They were checked against each regulator’s published rules on 6 September 2026, and the check date is shown on every answer. Rules change — ICAEW’s did in September 2024 and RICS’s in July 2025 — so tell us if you spot a change and we will update it.

Why are the FCA limits in euros?

MIPRU 3.2 and IPRU-INV 13 carry the Insurance Distribution Directive minimums into UK rules in euros. A sterling policy must meet the euro equivalent at inception and at renewal, which is why the calculator asks for a rate.

My professional body is not listed. What is my minimum?

Engineers, IT and management consultants, designers and most other consultancies have no statutory minimum; client contracts set it. Other bodies (ICAS, CIMA, CIOT, ATT, CIAT) publish their own rules; ask us and we will check the current figure for you.

Does the minimum include defence costs?

It depends on the wording. Some regulators require defence costs in addition to the limit; others allow them within it. That is one of the things a proper comparison of quotes shows, and one of the things the stay-put letter checks.

Not sure the minimum is enough?

Send us your schedule and your largest contract. A named Apex broker will tell you what your regulator requires, what your contracts require, and whether the two match. Or call 0117 325 0027.

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Apex Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales, company number 07014570. The calculator applies published regulatory minimums as checked on 6 September 2026 and is general information, not advice; regulators change their rules and you should confirm the current requirement with your regulator or broker before relying on it.