Indemnity insurance
Supreme Court “may change approach” to ‘lost litigation’ claims
The Supreme Court may look to change the courts’ approach to dealing with claims over negligently conducted litigation later this year in a case involving miners’ compensation.
Inquest negligence claim against Leigh Day thrown out
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.
Law firms face £6m negligence claim from property investors
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.
High run-off premiums “holding profession back”, says innovator
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.
Indemnity insurance reforms not worth the risk, cautions ABI
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.
Trio of leading law firms facing ‘conspiracy’ claim win security for costs order
Three leading law firms being sued for unlawful means conspiracy have been awarded a multi-million pound security for costs order.
SRA’s insurance reforms “piling too much risk on consumers”
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
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
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
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”.
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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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