Isle of Man: The Legal Profession
Solicitors' Account Rules
This page was last updated on 21 February 2020.
Professional indemnity insurance is mandatory in the Isle of Man. There is no client compensation fund.
Holding client money is regulated by the Isle of Man Law Society's Advocates' (Accounts) Rules 1993, which are similar to the English solicitors' account rules and stipulate that client money must be held in a designated client account. Rules also cover a client's entitlement to interest.