PII – why a large number of firms will be seeking a new insurer

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By Legal Futures

15 July 2010


Seeking cover: as many as 3,200 firms could be seeking new insurers this year

When the profession ditched the Solicitors Indemnity Fund (SIF), a compelling reason for the move was that many good firms were paying for the failures of the few. Now, a decade later, solicitors are back in exactly the same position. Only, the ‘few’ could become substantially more over the next few months.

‘The assigned risks pool (ARP) is now regarded as the root of all evil,’ says Martin Ellis, head of the solicitors’ practice group at broker Prime Professions. After several years when there were no more than 30 firms in the ARP – the last resort for firms which cannot find cover on the open market – in 2008/9 there were 140, some 259 in 2009/10 and, it is feared, many more joining them this October.

Read the rest of this feature, written by Legal Futures Editor Neil Rose, on the Law Society Gazette website here.

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Legal Futures Blog

Rating lawyers by their wins and losses – a good idea?

Robert Ambrogi

Lawyers will give you any number of reasons why their win-loss rates in court are not accurate reflections of their legal skills. Yet a growing number of companies are evaluating lawyers by this standard – compiling and analysing lawyers’ litigation track records to help consumers and businesses make more-informed hiring decisions. The shortcomings of evaluating lawyers by win rates are many. Not least of them is that so few cases ever make it to a win or loss. Of equal concern is that, in the nuances of law practice, it is not always obvious what constitutes a win or a loss.

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