A claim that Leigh Day was negligent in its representation of the family of the deceased at an inquest has been dismissed by the High Court.
Two law firms have been facing multiple claims worth nearly £6m from disgruntled investors who lost money on hotels and student accommodation that were never built.
The profession should work with indemnity insurers to deal flexibly with run-off risks and encourage large law firms to merge with small ones, according to a solicitor entrepreneur.
The Solicitors Regulation Authority is wrong to assume that premiums will fall as a result of its professional indemnity insurance reforms, the Association of British Insurers has warned.
Three leading law firms being sued for unlawful means conspiracy have been awarded a multi-million pound security for costs order.
The Solicitors Regulation Authority’s plans to reform professional indemnity insurance and the compensation fund put too much risk on consumers without any commensurate benefit, a watchdog has warned.
The Court of Appeal has overturned a ruling that leading Welsh firm Hugh James did not have to pay a former client damages even though it had provided negligent advice. It is the latest in a long line of negligence cases to come out of the government’s miners’ compensation scheme.
The Law Society has launched a fierce attack on the second attempt by the Solicitors Regulation Authority to reduce the indemnity insurance and compensation fund requirements for solicitors. The society opposed all the main proposals, including a new £500,000 minimum limit for compulsory indemnity cover.
Conveyancers are facing higher professional indemnity insurance costs – and their clients higher fees as a result – due to yesterday’s Court of Appeal ruling in Dreamvar, experts have predicted. One said the judgment “will provide greater protection to buyers, but will shake up the conveyancing industry with much greater risk of liability”.
The Solicitors Regulation Authority has today unveiled its second attempt to reduce the compulsory level of professional indemnity insurance to £500,000 – although conveyancers would have to secure £1m in cover. It also wants to turn the Compensation Fund explicitly into a ‘hardship’ fund and ban relatively wealthy people from claiming on it.