Indemnity insurance
Firm angry over inclusion on SRA indemnity list as solicitors predict PI firms will dominate next one
There have been some angry reactions to the Solicitors Regulation Authority’s publication last Friday of the names of 136 law firms which did not secure professional indemnity insurance by 29 December.
SRA set for unrated insurer u-turn
The Solicitors Regulation Authority is set to perform a u-turn on allowing unrated insurers to offer solicitors cover after discovering that they do not always have the same protections as rated insurers.
SRA reveals some of 136 firms without PII insurance have “failed to close”
The Solicitors Regulation Authority has published a list of 136 firms that failed to renew their professional indemnity insurance since October, but said a small number have failed to close properly.
SRA set to publish names of uninsured firms
The Solicitors Regulation Authority should this week publish a list of those law firms which were to have closed on 29 December because they failed to secure professional indemnity insurance, Legal Futures has learned.
SRA tells uninsured firms to “come clean”
It is unclear how many of the 116 firms that were meant to have shut down last week for failing to secure professional indemnity insurance have actually done so, the Solicitors Regulation Authority admitted yesterday.
Latest firm to go under after failing to find insurance costs 34 jobs
The toll of firms failing to renew professional indemnity insurance continues to rise, with another 34 people losing their jobs after home counties firm Hilliers HRW LLP called in administrators.
SRA discovers more firms without insurance as 117 face closure next week
The Solicitors Regulation Authority (SRA) has found a further 17 firms that have still not secured professional indemnity insurance, taking the current total facing closure next week to 117.
SRA still trying to work out how many firms don’t have insurance
A “substantial” number of law firms have failed to tell the Solicitors Regulation Authority whether or not they have professional indemnity insurance, the regulator admitted today. The SRA would not reveal how many had not declared their insurance position.
SRA to investigate impact of legal aid cuts on crime firms
The Solicitors Regulation Authority is to investigate the likely impact of criminal legal aid fee cuts on the viability of law firms amid warnings that the cost to the profession of collapses could spiral.
Thousands of 'right to buy' negligence cases piling up against conveyancers
Law firms are facing thousands of claims for professional negligence over their involvement in ‘right to buy’ work, it has emerged. Last week the judiciary issued a new right-to-buy practice direction to deal with the potential deluge of cases.
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Five key issues to consider when adopting an AI-based legal tech
As generative AI starts to play a bigger role in our working lives, there are some key issues that your law firm needs to consider when adopting an AI-based legal tech.
Bulk litigation – not always working in consumers interests
For consumers to get the benefit, bulk litigation needs to be done well, and we are increasingly concerned that there are significant problems in some areas of this market.
ABSs, cost and audits – fixing regulation after Axiom Ince
A feature of law firm collapses and frauds has sometimes been the over-concentration of power in outdated and overburdened systems of control.
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