SRA Authorisation & Insurance

If you have ever considered going into sole practice, you will have thought about the burden of SRA authorisation and obtaining professional indemnity insurance.

Solicitors are entitled to practise outside an authorised law firm nowadays provided they are not performing “reserved legal activities”.

Obtaining reliable and comprehensive professional indemnity insurance cover as a non-authorised solicitor, however, is very challenging. Low-cost, general professional services policies are available, but they rarely stand up to the test of a genuine claim.

Further, many clients, particularly larger or enterprise clients, require their external legal service providers to be SRA authorised, in large part because of the mandatory SRA minimum terms insurance cover that all SRA-authorised firms must carry (up to £3 million per claim of “low-quibble” cover).

Under Clearlake’s Full Practice Pathway you will have immediate access to a fully-authorised, fully-compliant practising vehicle, providing the credibility and peace of mind that many clients seek.

Our managing partner will run the firm for you and ensure every aspect of the firm’s compliance activities are taken care of.

By working on the Clearlake platform, all your work will be fully insured under out SRA minimum terms insurance policy.

Finally, our internal systems and custom-built workflow automations ensure you remain fully compliant with your obligations as a practising solicitor for everything from client onboarding, AML/KYC and conflicts checking to client care letters and terms of business.