indemnity insurance


SRA’s insurance reforms “piling too much risk on consumers”

19 June 2018

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.


Negligent solicitors face damages rehearing after Court of Appeal ruling

15 June 2018

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.


Law Society condemns SRA’s indemnity and compensation fund reforms

12 June 2018

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.


Dreamvar reaction: Conveyancers face insurance premium hikes

16 May 2018

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”.


SRA unveils sweeping reforms to indemnity insurance and compensation fund

23 March 2018

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.


High Court lifts threat to solicitor in wake of former partner’s mortgage fraud

23 March 2018

A threat to make a former partner of a corrupt solicitor who was part of a £30m mortgage fraud pay £205,000 in damages has been lifted when the High Court struck out a claim by one of the mortgage companies.


Borrower’s solicitor not liable for bank’s loss because it should have realised her error

1 March 2018

A bank that relied on inaccurate information supplied by its borrower’s solicitor should not have won a negligence claim against her, because it failed to carry out its own checks, the Supreme Court has ruled. It restored the ruling of the judge at first instance, who held that the bank did not act reasonably.


Law firm was negligent in property purchase but clients would have gone ahead anyway, court rules

23 February 2018

A Kent law firm was negligent for failing to advise properly on a mortgage and valuation report, but this did not cause a couple in Canterbury to buy a house suffering from subsidence, a circuit judge has ruled. He said it was not the firm’s duty to “advise about structural matters when there was a structural survey available”.


Break your silence on legal aid cuts, lawyers tell Legal Services Board

22 February 2018

If the Legal Services Board is serious about promoting access to justice it must end its silence on the legal aid cuts, lawyers’ organisations have said. The Bar Council accused the oversight regulator of acting like “another department of government” by refusing to comment.


Law firms secure 18-month indemnity deals in ‘soft’ insurance market

13 February 2018

Law firms have taken advantage of a soft insurance market to secure 18-month professional indemnity insurance deals at a “very good” rate, a report has found. More firms were asking about additional cover to protect solicitors against defence costs in disciplinary proceedings, in the wake of the Leigh Day case.

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Blog

18 June 2018

Surely no one would do this?

It’s slightly tongue-in-cheek, but let’s see if we can design a business model that is doomed to struggle and which will ensure that we miss out on the profit and cash opportunities that come with providing high-value services at high prices in a near-monopoly situation.

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15 June 2018

Welcome to the new-look Legal Futures

Welcome to the new-look Legal Futures, refreshed and redesigned to be mobile optimised. We have run enough stories highlighting the importance of mobile optimisation, and we are finally practising what we preach.

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