PI Insurance

The Law Society monopoly has been extended for 2026-27

The Law Society of NSW and the Attorney General of NSW have once again intervened to block competition. Without their intervention, competition would have taken effect automatically in accordance with the Uniform Law.
Access to a broader and more cost-effective PI insurance policy has once again been denied to NSW solicitors.

ABC Insurance sent letters to the Law Society of NSW Councillors (here) and the Attorney General of NSW (here).

The conflicts of interest and the anti-competitive arrangements are becoming more visible and untenable, amid increasing political and media scrutiny.

The Australian published an article entitled “NSW Attorney-General Michael Daley squirms over law society’s $14.6m insurance cash cow” subtitled “A ten-second exchange in the NSW parliament’s budget estimates last week revealed everything that’s wrong with the Law Society of NSW’s $14.6m monopoly on legal insurance”.

There is also growing support from the legal profession. A group of solicitors launched a campaign (pichoice.com.au) seeking a meeting of members of the Law Society of NSW.

NSW Parliamentary Inquiry

The Legislative Council of NSW has voted to establish a Select Committee to inquire into the arrangements regarding NSW solicitors' professional indemnity insurance. As Hon. John Ruddick, MLC noted during debate:

"The documents that have been produced by the call for papers under Standing Order 52 only reinforce the need for closer scrutiny. They appear to raise important questions about decision-making processes, the relationship between the Government and the Law Society, the role played by departmental officials, whether proper regard has been given to competition principles, and the appropriateness of the Attorney General's statutory powers."

Lawyers Weekly recently published an article entitled "A-G says ‘no chance’ to attending PII inquiry over DPP ‘witch hunt’" highlighting how the Attorney General intends to avoid this PII inquiry by citing unrelated DPP matters as an excuse.

The Select Committee is currently accepting submissions (until 15 Sep 2026).

Now is a critical moment to engage and make your voice heard.

See our Resources page for more information.