SRA run off cover: SRA Successor Practice Rules
The SRA Successor Practice Rules carries 5 published figures read from 3 sources' own pages, from 7 to 90 day, read 28 October 2026.
3 of the 9 named sources read in full publish a figure; 6 publish none, read 28 October 2026.
By rule
| Breakdown | Median | Range | Sources |
|---|---|---|---|
| rulerun-off-cover-period | 6year | 6 to 6year | 1 |
| ruleextra-cover-after-extended-policy-period | 90day | 90 to 90day | 1 |
| ruleextended-policy-period | 30day | 30 to 30day | 1 |
| rulecessation-period | 60day | 60 to 60day | 1 |
| rulerecords-retention | 6year | 6 to 6year | 1 |
| ruleclosure-form-before-closing | 7day | 7 to 7day | 1 |
| ruleclaims-made-after-three-years | 40% | 40 to 40% | 1 |
| ruleinsurer-tells-sra-of-successor-decision | 7day | 7 to 7day | 1 |
| rulerun-off-premium-against-pii | 50% | 50 to 50% | 1 |
Every figure, with its source
One row per published figure: the figure as the source's own page publishes it, the page, and the day it was read. A figure that is not on a page we read is not on this one.
| Source | Figure | Breakdown | Read |
|---|---|---|---|
| SRA guidance: closing down your practice | 90day | extra-cover-after-extended-policy-period | 2026-10-28 |
| SRA guidance: closing down your practice | 60day | cessation-period | 2026-10-28 |
| Law Society: run-off cover | 50% | run-off-premium-against-pii | 2026-10-28 |
| Law Society: run-off cover | 40% | claims-made-after-three-years | 2026-10-28 |
| SRA guidance: closing down your practice | 30day | extended-policy-period | 2026-10-28 |
| SRA firm closure notification form | 7day | closure-form-before-closing | 2026-10-28 |
| Law Society: run-off cover | 7day | insurer-tells-sra-of-successor-decision | 2026-10-28 |
| SRA guidance: closing down your practice | 6year | run-off-cover-period | 2026-10-28 |
| SRA guidance: closing down your practice | 6year | records-retention | 2026-10-28 |
The sentence each figure was read from (9)
- SRA guidance: closing down your practice, read 2026-10-28:
If, before you closed your practice, you had to enter the Extended Policy Period (EPP) (because you were unable to take out a new policy), your last insurer has to provide you with an extra 90 days' cover from the end of your policy.
- SRA guidance: closing down your practice, read 2026-10-28:
However, during the last 60 days (called the Cessation Period), you are not permitted to take on any new instructions and can deal only with existing matters.
- Law Society: run-off cover, read 2026-10-28:
Because it covers six years, this means the run-off premium is approximately 50% of what PII cover would have cost.
- Law Society: run-off cover, read 2026-10-28:
However, about 40% of claims are made more than three years after the event.
- SRA guidance: closing down your practice, read 2026-10-28:
During the first 30 days (called the Extended Policy Period) you may practise as normal.
- SRA firm closure notification form, read 2026-10-28:
You should submit this form no more than seven days before you intend to close.
- Law Society: run-off cover, read 2026-10-28:
Your insurer must tell the SRA about this decision within seven days.
- SRA guidance: closing down your practice, read 2026-10-28:
Your insurer on cover at the date you close your practice is obliged to provide run-off cover for a period of six years from the date of expiry of your policy.
- SRA guidance: closing down your practice, read 2026-10-28:
For example, there are obligations under rule 8.1 of the Financial Services (Conduct of Business) Rules and rule 13.1 of the Accounts Rules to retain records for a period of at least six years.
Read in full, publishes no figure
6 named sources were read in full on the dates shown and print no usable figure. They are counted, never filled in.
- SRA Indemnity Insurance Rules (and Annex 1 MTC), read 2026-10-24: every candidate on the page was refused
- SRA warning notice: mergers, acquisitions and sales of law firms, read 2026-10-28: read in full and no accepted figure on the page
- SRA: Insurance Act 2015 changes to the MTC, read 2026-10-28: read in full and no accepted figure on the page
- Cohen v Lorrells LLP [2019] EWHC 32 (QB): is a firm a successor practice, read 2026-10-28: every candidate on the page was refused
- Law Society: run-off cover (advice article), read 2026-10-28: every candidate on the page was refused
- Law Society: succession planning for small firms, read 2026-10-28: every candidate on the page was refused
Methodology
Every row is a verbatim sentence read from the named source's own page through our fetch service on the date shown, hash-pinned to the stored read (the sha of the page's visible text; the raw page is mirrored to R2).
3 of the 9 named sources that could be read published a usable figure; 6 published none and are recorded as not published, never filled in; 0 could not be read (blocked, dead or unreachable) and count nowhere.
The headline figures (median, minimum, maximum, quartiles) are over ONE figure per source for each breakdown it prices, in day (a source's median where its page yielded several accepted sentences for one breakdown), so a page that gives figures for several breakdowns gives one for each and N counts 5 figures, never sentences; 53 candidate sentence(s) were refused by a reviewer with the reason recorded.
The fuller derivation this dataset is chartered to grow into (not yet what the figures above are; they are each source's own published figure as read): one row per rule, each read from the SRA's own text with the clause it sits in: the definition of a successor practice (the MTC tests: who takes on the practice, its principals, its clients and its name), the six-year run-off obligation, the seller's election before cessation between run-off and succession, the premium-before-cessation and insurer-notifies-SRA conditions, and what happens by default; dated so a change in the MTC shows as a change on the page
53 candidate sentences on these pages were refused by a reviewer; each refusal and its reason is recorded in the review ledger.
Sources (9)
- SRA Indemnity Insurance Rules (and Annex 1 MTC)(the publisher's own terms; quoted for reporting and comment)
- SRA guidance: closing down your practice(the publisher's own terms; quoted for reporting and comment)
- SRA warning notice: mergers, acquisitions and sales of law firms(the publisher's own terms; quoted for reporting and comment)
- SRA firm closure notification form(the publisher's own terms; quoted for reporting and comment)
- SRA: Insurance Act 2015 changes to the MTC(the publisher's own terms; quoted for reporting and comment)
- Cohen v Lorrells LLP [2019] EWHC 32 (QB): is a firm a successor practice(the publisher's own terms; quoted for reporting and comment)
- Law Society: run-off cover(the publisher's own terms; quoted for reporting and comment)
- Law Society: run-off cover (advice article)(the publisher's own terms; quoted for reporting and comment)
- Law Society: succession planning for small firms(the publisher's own terms; quoted for reporting and comment)
Cite or embed this figure
The SRA Successor Practice Rules carries 5 published figures read from 3 sources' own pages, from 7 to 90 day, read 28 October 2026.
3 of the 9 named sources read in full publish a figure; 6 publish none, read 28 October 2026.
SRA Successor Practice Rules, rule run-off-cover-period: median 6 year across 1 source, read 28 October 2026.
SRA Successor Practice Rules, rule extra-cover-after-extended-policy-period: median 90 day across 1 source, read 28 October 2026.
SRA Successor Practice Rules, rule extended-policy-period: median 30 day across 1 source, read 28 October 2026.
SRA Successor Practice Rules, rule cessation-period: median 60 day across 1 source, read 28 October 2026.
SRA Successor Practice Rules, rule records-retention: median 6 year across 1 source, read 28 October 2026.
SRA Successor Practice Rules, rule closure-form-before-closing: median 7 day across 1 source, read 28 October 2026.
SRA Successor Practice Rules, rule claims-made-after-three-years: median 40 percent across 1 source, read 28 October 2026.
SRA Successor Practice Rules, rule insurer-tells-sra-of-successor-decision: median 7 day across 1 source, read 28 October 2026.
SRA Successor Practice Rules, rule run-off-premium-against-pii: median 50 percent across 1 source, read 28 October 2026.
Cite as: "successorpractice.co.uk SRA Successor Practice Rules", updated 2026-10-28, https://successorpractice.co.uk/datasets/sra-successor-practice-rules/.
Download the CSV (9 rows, computed 2026-10-28)