Legal Environment – Legal Practitioners

Bespoke Professional Indemnity, Fidelity Guarantee, Misappropriation of Trust Funds and Third Party Impersonation Fraud Policy for Legal Practitioners


Genoa Underwriting Managers, on behalf of Safire Insurance Company Limited, offers a claims made basis Top-Up Professional Indemnity Insurance Policy to our legal practitioner clients.

All Law firms enjoy a primary level of Professional Indemnity Insurance through the legal practitioner’s Indemnity Insurance Fund (“LPIIF”). This level of cover ranges between R1,562,500 and R3,125,000, dependent on the number of directors in the practice.


As Genoa's footprint in the liability space continues to grow from strength to strength, we thought we would share with you why more and more brokers are choosing to work with us as their partner of choice:

Our Underwriters are committed to providing our clients with superior turnaround times when issuing quotations and schedules of cover

Our underwriters are experts in their respective fields and are able to offer our clients technical advice which helps empower them to secure an account

We have strong working relationships with the top re-insurers in the country including Munich Re and Swiss Re who support all of our Professional Indemnity products

Through strategic reinsurance partnerships we are able to offer competitive market premiums

Our policies include a number of meaningful extensions that offer true value to our thousands of Insured clients

Our Insured Practitioners are represented by the top law firms in the country, including firms like Clyde & Co, Garlicke & Bousfield, Mac Robert Attorneys, Norton Rose Fulbright and Webber Wentzel


Professional Indemnity

All Legal Practitioners enjoy an annual amount of indemnity with the LPIIF according to the number of principals in the firm.

The Professional Indemnity Policy of the LPIIF grants cover to the Insured in respect of defined risks and up to the limit as defined therein and is referred to as the “Master Policy”.

The cover provided under the LPIIF PI Master Policy may not be sufficient for the Insured’s needs, hence why additional cover often needs to be bought.

In addition to providing TOP Up PI cover to the Master policy cover, Genoa has other sections of cover on offer.

Fidelity Guarantee Cover

Fidelity Guarantee covers the loss of money or property sustained by the business/practice as a direct result of fraud, dishonesty or theft by an employee in the course of employment.

Third-Party Impersonation Fraud

Third Party Impersonation Fraud covers the loss of money as a direct result of an Insured Employee having, in good faith amended the bank account details of the Insured’s Client to the details of a bank account that belongs to an Impersonator and transferred Money from the Insured’s Trust account into the incorrect account as a result of a fraudulent instruction communicated via email, telephone or fax to the Insured Employee, by an Impersonator purporting to be the Insured’s Client or Authorised Person in respect of a transaction being acted upon by the Insured.

These covers are not offered by the LPIIF Master policy but can be selected as an additional cover in our TOP UP policy.

Misappropriation of Trust Funds

In addition to providing Top Up Professional Indemnity cover to the Master Policy, Genoa offers additional sections of cover which the LPIIF don’t offer, which operate independently and from the ground up.

Misappropriation of Trust Fund cover protects the practice from theft/ misappropriation of trust fund monies, by directors or employees who hold a valid contract of employment.

It is important to note: The LPIIF does not cover a legal practice against the Misappropriation of Trust Funds and instead the directors would remain personally liable.

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