The costs

What run-off cover and a law firm valuation cost, as published

Updated 2026-10-28

Most brokers and valuers quote rather than publish. Three figures are printed on the firms' own pages; here they are, with the day each was read.

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Run-off cover

Lockton says most insurers charge between 225% and 400% of the preceding year's primary layer PII premium for run-off cover. The Law Society puts it another way: run-off covers six years, so the premium is approximately 50% of what six years of PII would have cost.

Source: Lockton: what is run-off cover

Valuing a law firm before a sale

Armstrong Watson publishes a desktop valuation from £3,975 plus VAT for firms of up to 100 people. Ten Percent Group publishes a valuation service from £650 plus VAT.

Source: Armstrong Watson: law firm valuation

Ten Percent Group

Valuation service from £650 plus VAT, on its own guide page, read 28 October 2026.

Source: Ten Percent Group: law firm valuations, a rough guide

Every figure in one table

The three figures are kept as one dataset with the sentence each came from.

Source: Successor practice adviser figures: every row, with its source

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What you are weighing up and when it needs settling. Joseph Ellul reads it himself and replies to arrange a free call.

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Selling or merging my firm Buying or taking on a firm Closing my firm and run-off cover Whether a deal makes us a successor practice Something else, I will explain

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The kind of firm, how many principals, and anything already agreed with an insurer or a buyer.

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Read and answered by Joseph Ellul himself; no firm or insurer receives it
Information only: no legal, regulatory or insurance advice

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What you are weighing up and when it needs settling. Joseph Ellul reads it himself and replies to arrange a free call.

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Sources

This site's own datasets, every figure quoted from its source and dated:

The SRA Successor Practice Rules carries 5 published figures read from 3 sources' own pages, from 7 to 90 day, read 28 October 2026.
The median published figure in the Successor Practice Adviser Index is 2,312.50 GBP across 2 sources' own pages in GBP (range 650 to 3,975 GBP; 3 sources publish a figure), read 28 October 2026.

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