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Proposals from the “timid” Solicitors Regulation Authority to reform the market for professional indemnity insurance are inadequate and will only worsen already fears for the future of the market, the Association of British Insurers has warned. However, the SRA’s blueprint has been welcomed by the Law Society and the Council of Mortgage Lenders.

QualitySolicitors is preparing to eject a member firm for failing to meet the network’s quality standards, its chief operating officer told the Legal Futures Conference yesterday. Law Society chief executive Des Hudson also questioned QS’s use of the word “quality” in the brand.

The number of law firms in England and Wales has continued its inexorable rise, with 25% more in practice than a decade before, new figures have revealed. The Law Society’s annual statistical report also shows the impact of the recession on the largest City practices.

That the Law Society and Solicitors Regulation Authority are not the best of friends is not news to those close to the world of legal regulation. They generally keep it reasonably well hidden from public view but this week we have seen a bit of a “he said, she said” over what happened in the week between the SRA approving the ABS licensing application and the Law Society council agreeing it.

The Solicitors Regulation Authority has compromised on aspects of its application to become an alternative business structure regulator, it emerged last night. Agreement was reached between the society and its regulatory arm on various changes to the application which the SRA’s board agreed last week.