- Friday, 12 December 2014
The Solicitors Regulation Authority (SRA) has rejected a proposal by the Law Society to extend the additional indemnity run-off cover provided by the Solicitors Indemnity Fund (SIF) for a further three years until 2023.
Tags: Indemnity insurance, Law Society, Solicitors Indemnity Fund, Solicitors Regulation Authority
Posted in Indemnity insurance, Latest news, Regulation, Solicitors
- Thursday, 9 December 2010
We should have seen it coming, really. The last two property crashes and the wave of claims against conveyancers they brought in their wake broke the system for solicitors’ professional indemnity insurance – first the master policy and then the Solicitors Indemnity Fund – and so here we are again contemplating radical reform.
Tags: assigned risks pool, Law Society, outcomes-focused regulation, professional indemnity insurance, Solicitors Indemnity Fund, Solicitors Regulation Authority
Posted in Blog
- Friday, 23 July 2010
A new insurer today entered the professional indemnity market for small law firms, having taken over the run-off claims-handling function of the Solicitors Indemnity Fund.
Tags: Law Society, professional indemnity insurance, Solicitors Indemnity Fund
Posted in Indemnity insurance, News, Solicitors
Legal education and training is not fit for today, let alone the future, and the approach of the main professional bodies to the need for greater accessibility and flexibility could not have been more different.
Since abolition of the common renewal date, practices have been free to choose when to renew their professional indemnity insurance. We estimate that around 30-40% now renew between March and April.