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QBE has taken over as the leading insurer of solicitors, figures released yesterday by the Solicitors Regulation Authority have revealed. Between QBE Insurance (Europe) Ltd and two Lloyd’s syndicates, the Australian-based insurer secured 18.2% of the premiums paid.

The Solicitors Regulation Authority has revealed that around 10 firms have failed to close after failing to secure professional indemnity insurance and are heading for intervention, as the fallout resulting from last year’s renewal season enters its final phase.

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.

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.

Let’s not underestimate the pace of change in the legal regulatory landscape over the past couple of years. Developments have been unprecedented, relentless and, at times, frustrating. 2014 is set to be another busy year for compliance officers with yet more regulatory upheaval. And it all kicks off in January with a review of the compliance officer for finance and administration (COFA) role.