PROFESSIONAL INDEMNITY INSURANCE

Kings Court has Professional Indemnity Insurance through Hiscox Insurance Company under Policy No HU P26 1682616 (16) covering up to £3 million in any one claim. Our policy covers the Company against any claims for professional negligence, fraud or dishonesty.

Unlike most solicitors Kings Court trades as a Company and accordingly the Insurance policy is in the name of the Company. If the Company suffers a loss through a claim against it arising from fraud, theft or dishonesty, the policy covers the liability of the Company.

Accordingly Kings Court believes that its clients and estates are protected from these risks. It does not contribute to The Solicitor's Compensation Scheme (SCS) which only compensates people who have suffered financial loss due to a solicitor's dishonesty or failure to account for monies received. In these cases the SCS is required to protect the client as the defaulting party is usually a sole practitioner or a small partnership who will not be able to claim against their own insurance policy.  

CLIENT MONIES

Kings Court holds funds on behalf Clients in separate Bank Accounts.
These Bank Accounts are held on trust and are designated Client Accounts. Although the bank accounts are in the name of Kings Court, they do not form part of the assets of the Company and are held in separate segregated accounts for the specified client. They are not available to the Creditors in the event of the insolvency of the Company nor can they be offset by the Company's bankers against other bank accounts.

The Company recognises that the effectiveness of Internal Controls over Client Bank accounts is an essential part of the Board's responsibilities. The Management team is accountable to the Board for developing, operating and the system of internal control and providing assurance to the Board that it has done so.