Indemnity insurance

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.

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.

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.

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.

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.

A married couple has largely failed in a claim of negligence against a firm of solicitors which had admitted that it failed to advise properly on a separate negligence case against another law firm.

The High Court has thrown out a claim that two law firms and three solicitors were responsible for two allegedly fraudulent transfers of a property.

A London law firm has “no real prospect” of defending a £5.2m breach of trust claim brought against it following a London property deal, the High Court has ruled.

An expert in law firm regulation has said he does not know a single insurer interested in providing indemnity insurance to freelance solicitors, a concern echoed by the Law Society.

A judge was wrong to stop a case against a law firm that had incorporated since potentially negligent advice was given when the wrong entity was named in the claim, the High Court has ruled.

Allowing a City law firm and QC to rely on ‘without prejudice’ communications to defend allegations of professional negligence could “undermine the policy of encouraging parties to settle disputes”.

The High Court has rejected an application by global giant Dentons to strike out a negligence claim made against it as a third party.

National firm Simpson Millar has set up a team within its professional negligence department to handle potential actions against solicitors who failed to warn leasehold clients of damaging clauses.

Yesterday’s Supreme Court ruling on solicitors’ professional negligence is good news for both law firms and their insurers, and should stem the flow of claims about the under-settlement of PI cases.

The Supreme Court has overturned a Court of Appeal ruling that a negligent law firm should have to compensate its former client for failing to make a claim.