Indemnity insurance
Supreme Court backs miner’s claim against solicitors
A miner who lost the chance of compensation due to the negligence of his solicitors is entitled to damages because later evidence indicating that he was not eligible was irrelevant, the Supreme Court has ruled.
Boxer’s banker fails in negligence claim against lawyers
A solicitor, his law firm and the barrister they instructed have been granted summary judgment on a negligence claim brought against them by a banker fired for his work with boxer David Haye.
SIF rule could be “catastrophic” for retired solicitors
Refusal by the Solicitors Indemnity Fund to accept notifications of potential claims could be “catastrophic” for retired solicitors, a specialist in professional regulation and insurance has warned.
Solicitors “must think about run-off cover” ahead of SIF closing
Partners and fee-earners in law firms which have closed should give “careful thought” to buying additional run-off cover to protect them when the Solicitors Indemnity Fund closes next year.
Court strikes out “incomprehensible” claim against law firm
The High Court has struck out a claim for professional negligence, breach of contract and fiduciary duty made against a central London law firm which was based on “incomprehensible pleadings”.
PII reform views “evolving” due to market changes
There are powerful reasons why the SRA and Law Society could reverse their positions respectively in favour of and against reform of professional indemnity insurance, it has been claimed.
New indemnity insurer offers rewards for well-behaved firms
A new professional indemnity insurer is claiming to be the first to offer well-run law firms “direct financial rewards” – such as a full premium rebate in a firm’s fourth year if it remained claims-free.
PII market “hardening” but cover still available for savvy firms
The professional indemnity insurance is challenging for renewals this year, but firms can help persuade jittery underwriters of their case for cover by showing that they have taken steps to mitigate risk.
Gateley found negligent over redevelopment agreement
The High Court has found national law firm Gateley negligent in its advice to the owner of land in Nottingham that led to him missing out on some of the profits from its redevelopment.
Leading firm held liable for asbestos case blunder
The High Court has ordered Cardiff-based Hugh James to pay six-figure damages to the family of an asbestos victim for professional negligence in abandoning their personal injury claim.
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.
