Indemnity insurance
Negligent advice warning over coronavirus jobs scheme
Lawyers who advised clients on the Coronavirus Job Retention Scheme are at risk of claims as the government looks to claw back payments to which recipients were not entitled.
Judge: Investor who lost pension was not law firm’s client
A man who lost his pension after investing in self-storage pods with disastrous results was not the client of the law firm who advised on it, a judge has held.
Firm’s negligence had “disastrous consequences” for client
It is difficult to imagine a “more obvious breach of duty” by a conveyancing solicitor than failing to register its new owner, the High Court has said in a case where it had “disastrous consequences”.
Coronavirus prompts SRA to rethink closure of SIF
The Solicitors Regulation Authority is to look again at whether to close the Solicitors Indemnity Fund – which covers claims made after firms’ run-off cover expires – in September this year.
Law firm fails to strike out deceit allegations
The High Court has rejected an attempt by well-known Surrey law firm Stevens & Bolton to strike out allegations against it of dishonest assistance, deceit and unlawful means conspiracy.
SRA: Firms can prolong extended PII cover with agreement
Law firms unable to secure professional indemnity insurance because of Covid-19 can prolong the extended indemnity period by agreement and with regulatory approval.
Court rejects “fanciful” conveyancing negligence claim
The High Court has rejected a “fanciful” £600,000 conveyancing negligence claim against the law firm Gateley, based on an error admitted by the firm.
Negligent firm ordered to pay €3.5m to property investors
A defunct Italian law firm that operated in London has been ordered by the High Court to pay €3.5m to investors in a failed holiday development that allegedly had links to the Mafia.
First indemnity insurance for freelance solicitors launched
An insurance intermediary in the City of London has opened the door to the new breed of freelance solicitors by launching the first indemnity cover for them.
SRA gives up on major indemnity insurance reform
The Solicitors Regulation Authority has ended a controversial five-year project to reform the professional indemnity insurance regime, meaning the minimum level of cover will not be cut to £500,000.
Blog
Change in regulator shouldn’t make AML less of a priority
While SRA fines for AML have been climbing, many in the profession aren’t confident they will get any relief from the FCA, a body used to dealing with a highly regulated industry.
There are 17 million wills waiting to be written
The main reason cited by people who do not have a will was a lack of awareness as to how to arrange one. As a professional community, we seem to be failing to get our message across.
The case for a single legal services regulator: why the current system is failing
From catastrophic firm collapses to endemic compliance failures, the evidence is mounting that the current multi-regulator model is fundamentally broken.
