The legal market is “too intimidating, too uniform and, in many cases, too expensive”, the new chairman of the Legal Services Board has warned. Sir Michael Pitt said also he would like to see lawyers’ rulebooks slimmed down.
The number of larger professional indemnity claims is increasing, undermining the case for a cut in the minimum cover for law firms from £2m to £500,000, an industry expert has argued in a letter to the Legal Services Board.
Sir Andrew Burns, a career diplomat, has been chosen to replace Baroness Ruth Deech as chair of the Bar Standards Board (BSB) from 1 January 2015.
The Institute of Professional Willwriters has won approval for a unique alternative business structure that will enable its members and others to access related legal services for their clients, and share in the fees generated.
Legal Futures Blog
An increasing number of law firms are now using captives for their insurance arrangements as firms take proactive steps to regain control of their own destiny and secure direct benefits from their good risk management and efficient operation.