Solicitor 1 October PI renewal walkthrough — UK 2026
1 October is the SRA MTC standard PII renewal date. Approximately 90% of SRA-regulated firms renew this day. Preparation done well makes the renewal painless; preparation done badly makes it expensive. This is the week-by-week walkthrough.
The timeline
End June
Confirm renewal broker relationship. Initial account review with your broker to identify any material changes since last renewal (headcount, revenue mix, practice areas, notifications).
July
Fair presentation pack construction. Fee-income breakdown by activity. Claims / circumstance / notification narrative. Personnel changes. Regulatory matters. Standard SRA-questionnaire completion.
Early August
Broker submits presentation to primary insurers. Standard-profile firms typically see 2-4 insurers engaged. Difficult-risk cases involve wholesale Lloyd's market.
Mid-late August
Insurer questions returned. Broker manages the Q&A cycle. Firm answers material questions promptly.
Early September
Initial quotes returned. Broker compiles comparison across insurers — price, wording, structure, security.
Mid September
Negotiation phase. Aggregation-clause specifics, retroactive date, extensions, XOL layers. Bind decision typically made mid-September.
Late September
Final documentation. Certificate of insurance issued. SRA-reporting complete.
1 October
New policy inception.
2 October onwards
Firms unable to secure renewal enter EPP (30 days). Cessation Period follows if unresolved.
The preparation questions that matter
- Practice-mix disclosure. Percentage of fee income by activity. Insurers rate on this.
- Claims and circumstances. Every notification in the last 5 years. Include Ostrich-syndrome cases where firm thought nothing would come of it.
- Aggregation-relevant activity. Repeat clients, shared methodologies, common transaction structures.
- BSA-touching residential. HRB volume specifically. This is Q3 2026's biggest single rating driver.
- Personnel changes. Departing partners with claims history; new hires with prior notifications.
- Contract-mix changes. Move to deed execution; new large corporate clients; new client-required cover terms.