Indemnity insurance
High Court judge castigates senior property partner “who cut corners all the time”
A High Court judge has launched an extraordinary attack on a senior property partner, saying that although he was “on the whole” an honest witness, he “plainly cut corners all the time in his practice”. Mrs Justice Proudman said Michael Parker regarded himself as a “man of commerce”.
Conveyancing solicitors acting for both sides must report crucial details to lenders, appeal judges rule
Solicitors acting for both sides in property transactions are under a duty to disclose crucial details to lenders, the Court of Appeal has ruled. They are not expected to act as a “detective or bloodhound”, but should report adverse “non-confidential information”.
CA adds extra negligence finding and £375k damages on top of High Court’s £1.6m Withers ruling
The Court of Appeal has made an additional finding of negligence against leading London law firm Withers over its drafting of an LLP agreement and increased the £1.6m in damages awarded in the High Court by a further £375,000.
Separate representation in conveyancing “should be the norm”, Zurich says
Separate representation for lenders and borrowers in conveyancing transactions “should be the norm”, a senior manager at insurer Zurich has said. Michael Blüthner Speight described the increased cost would be “minimal”.
Appeal judges overturn Blakemores negligence claim strike-out and £635,000 costs judgment
The Court of Appeal has overturned a High Court decision striking out a negligence claim against Birmingham law firm Blakemores, now in administration, and also set aside a default judgment obtained by the firm for £635,500 in costs.
Small law firms “saved up to 25%” after Qatari insurer joined indemnity market
Small law firms have been saving up to 25% on their indemnity insurance premiums following the arrival of a new insurer from Qatar, broker Lockton has said. Brian Boehmer estimated that firms had saved on average around 10%.
City lawyers warn PII reforms “risk damaging solicitor brand”
City solicitors have outlined their deep scepticism about plans by the Solicitors Regulation Authority to reform professional indemnity insurance rules, warning that “the solicitor brand should not be placed at risk” without very good reason.
SRA hits back after Law Society attack on indemnity reforms
Paul Philip, chief executive of the Solicitors Regulation Authority, has hit back after the SRA’s latest indemnity insurance plans were fiercely criticised by the Law Society. He said the regulator had made “absolutely no new recommendations”.
Good news for law firms as High Court rejects insurer’s bid to cap liability for multiple claims
Solicitors’ professional indemnity insurers cannot aggregate multiple related claims when the terms of the transactions are not conditional or dependent upon each other, the High Court has decided in a ruling said to protect law firms from financial risk.
Car crash not to blame for lack of training contract, judge tells litigant-in-person
A judge has told a litigant-in-person that a road traffic accident she was involved in was not to blame for her failure to secure a training contract. Judge Walden-Smith said the “sad fact” was that many “competent individuals” failed to obtain a contract.
Two-partner firm succeeds in striking out £8m professional negligence claim
A two-partner central London law firm has succeeded in striking out a professional negligence claim for over £8m. Master Bowles said the claimants had allowed the proceedings to sink into “indefinite abeyance”.
High Court: solicitors had duty to advise on commercial element of deal
The High Court has dismissed a claim against a firm of solicitors, despite finding it negligent in failing to raise the absence of a covenant in restraint of competition during the purchase of a commercial property. It considered the lengths that a solicitor is expected to go to beyond facilitating the immediate transaction.
SRA floats end to both compulsory minimum PII and compensation fund
An end to a compulsory minimum level of professional indemnity insurance (PII) and replacing the compensation fund with an insurance policy are among the ideas for reform of client protection arrangements put forward by the Solicitors Regulation Authority.
Law firm should have warned property investors about “notoriously crime-ridden” Calabria
A law firm with offices in Italy and England was under a duty to warn British and Irish property investors of the risks of investing in a part of Italy associated with organised crime, the High Court has ruled.
‘Negligent’ firm escapes payout after court finds no causation
The High Court has dismissed a claim of professional negligence against a firm of solicitors because, although the claimant successfully established liability, no loss or damage was found to be have caused.