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Professional indemnity explained
Run-off cover length is the number of years a professional keeps PI insurance after stopping practice, set partly by regulators and partly by limitation law. Getting it wrong can leave old work uninsured.
Part of: Professional indemnity insurance
In short
Most UK regulators that set a run-off rule use six years. Solicitors get six years automatically through the SRA minimum terms. ICAEW firms must hold two years and take reasonable steps for four more. RICS builds six years of consumer run-off into its wording and expects six years for other claims. ARB expects six years (five in Scotland). The FCA and HCPC set no fixed run-off period, and engineers have no single rule. Limitation periods of 12, 15 and 30 years can mean six years is not enough.
For most regulated UK professions, the regulator's figure is six years after the practice stops, though the way that figure is imposed differs. Solicitors get six years automatically through the SRA minimum terms. Chartered accountants under ICAEW rules must hold at least two years and then take reasonable steps for a further four. RICS firms get six years of consumer run-off built into the minimum wording and are expected to arrange six years for other claims. ARB expects architects to keep six years. Engineers, financial advisers and health professionals have no single fixed regulator period, so limitation law and contracts drive the decision.
Six years is a regulatory floor, not a measure of risk. Limitation periods of 12, 15 and 30 years can apply, which is why many firms buy longer. Our run-off cover explainer covers the basics and PI requirements by profession sets out live cover rules.
| Profession | Regulator rule on run-off | Source |
|---|---|---|
| Solicitors (England and Wales) | The insurer on cover when the practice closes without a successor must provide run-off for six years from policy expiry; an additional premium may be charged if the policy allows | SRA closing down guidance |
| Chartered accountants (ICAEW) | Compliant cover for at least two years after cessation, then reasonable steps to keep it for a further four years | ICAEW PII Regulations, regs 2.7 and 2.8 |
| Chartered surveyors (RICS) | Consumer claims: £1m in all for six years from expiry, built into the minimum wording. Other claims: RICS expects at least six years from cessation | RICS PII requirements, version 11 |
| Architects (ARB) | Minimum six years of run-off (five in Scotland), at the same level as the last year of practice | ARB PII guidance, para 6.2 |
| Financial advisers and brokers (FCA) | No fixed run-off period in the FOS time limits; complaints can generally be made up to six years after the event or three years after awareness | FCA Handbook DISP 2.8 |
| HCPC registered health professionals | Must have appropriate indemnity while practising; HCPC guidance does not set a run-off period | HCPC indemnity guidance |
| Engineers | No single regulator run-off rule; driven by limitation, deeds and warranties | See run-off for engineers |
Rules change and can have transitional provisions, so check the current version for your body. ICAEW's current PII Regulations came into force on 1 September 2024; RICS version 11 took effect on 1 July 2025.
The regulator's figure tells you what you must hold. The Limitation Act 1980 tells you how long a client can sue:
| Claim | Period |
|---|---|
| Simple contract | 6 years from breach |
| Contract signed as a deed | 12 years from breach |
| Negligence | 6 years from damage, or 3 years from knowledge for latent damage, with a 15 year longstop |
| Defective Premises Act 1972 s.1 (dwellings) | 15 years; 30 years for rights accrued before 28 June 2022 |
The 15 and 30 year periods come from section 135 of the Building Safety Act 2022. They matter most for architects, engineers, surveyors and contractors with design responsibility on residential work. See how long a client can sue for professional negligence.
Illustrative example 1: solicitor. A sole practitioner closes with no successor practice. Their insurer provides six years of run-off under the minimum terms. After that, the SRA guidance says they must assess their own personal risk, as the Solicitors Indemnity Fund post run-off cover applied only up to 30 September 2022. See solicitors run-off explained.
Illustrative example 2: accountant. An ICAEW firm stops practising. It must hold two years of compliant run-off and then take reasonable steps for four more. If a tax planning claim surfaces in year seven, cover depends on whether the firm chose to keep going. See accountants run-off.
Illustrative example 3: financial adviser. An IFA firm closes and lets its PI lapse. Four years later a former client complains to the FOS about pension advice given five years before closure. Without run-off, the firm and its former principals may face the complaint with no insurer behind them. See FCA PI requirements for advisers.
Illustrative example 4: architect. An architect retires after designing flats. ARB expects six years, but the 30 year retrospective period for older dwellings means some choose longer. See run-off for architects.
How run-off is bought varies by profession, and the mechanism affects how long it realistically lasts:
RICS firms that cannot obtain run-off from their insurer or the open market can apply to the RICS Run-off Pool. For costs and influencing factors, see run-off cost drivers.
Apex arranges professional indemnity insurance and run-off for regulated professions; a broker reads every enquiry.
Under the SRA minimum terms, the insurer on cover when a practice closes without a successor must provide six years of run-off from the policy's expiry. An additional premium can be charged if the policy allows. After six years, solicitors need to assess their own personal risk.
The ICAEW PII Regulations require compliant cover for at least two years after a firm stops practising, then reasonable steps to keep it for a further four years. Together that points to six years of run-off in total, at no less than the minimum limits.
ARB guidance expects a minimum of six years (five in Scotland), at the same level as the final year of practice. That meets the regulator's expectation, but deeds, latent damage and the Building Safety Act's 15 and 30 year periods can expose architects for longer, so many consider a longer term.
Usually, yes in practice. The FCA does not set a fixed run-off period in the same way, but FOS complaints can generally be made up to six years after the event or three years after the customer became aware. A closed firm with no cover may face those complaints uninsured.
Not always. Some regulators set a level: ARB expects the same level as the last year of practice, and ICAEW requires at least its minimum limits. Contracts and warranties may also specify a limit. Below those, the limit is a judgement about your remaining exposure.
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