The PII rules planned by The Solicitors Regulation Authority (SRA) to reduce the minimum level of professional indemnity insurance (PII) cover to £500,000 from £2 million were not in place for the 1 October 2014 renewal. The SRA announced the…read more
SRA plans for new solicitors’ PII rules to be in place by 1 October renewal
The Solicitors Regulation Authority (SRA) is planning new PII rules for the 1 October 2014 renewal. The new rules, which were approved by the SRA board on 2 July, will reduce the minimum level of cover to £500,000 from £2…read more
Law firms that hide information from insurers could be struck off
The Solicitors Regulation Authority (SRA) is investigating more than 80 firms over professional indemnity insurance (PII) shortcomings. Twenty three are being probed for non-disclosure of information to PII insurers. They risk being struck off if they are found to have…read more
Five per cent of solicitors opt for a different renewal date
Last year just five per cent of solicitors’ practices took the opportunity to move their professional indemnity insurance renewal date from 1 October. Figures reported in the Law Society Gazette show that only 433 of about 10,700 firms took up…read more
SRA to reduce minimum level of PII cover?
The Solicitors Regulation Authority (SRA) has acknowledged that the minimum levels of professional indemnity insurance (PII) cover may be too high. It has questioned whether access to legal services for consumers is harmed due to the cost of cover or…read more
Gap in PI cover for trustees considered
Former principals and former employees of law firms who continue to act as trustees could be uninsured if they are accused of negligence warns Brunel Professional Risks. This could put their property and other personal assets in the firing line…read more
Solicitors Regulation Authority consults on PI insurance
The SRA has announced that it is to consult on only allowing rated insurers to provide professional indemnity cover to SRA-regulated law firms. According to the Law Society Gazette, SRA board papers reveal that premiums could increase by up to…read more
New Jackson reforms tested in ‘plebgate’ case
Former Conservative chief whip, Andrew Mitchell, will not be able to recover his full legal costs if he is successful in his libel action against the Sun newspaper after his legal team missed a deadline to file its costs budget….read more
Law firms without PI insurance facing enforcement action from the SRA
The Solicitors Regulation Authority (SRA) has warned law firms without PI insurance for 2013-14 that they could be breaching regulations and may face enforcement action. New rules introduced by the SRA closed the Assigned Risks Pool, which had previously provided…read more
Brunel enjoys record solicitors’ renewal
With 220 new solicitors’ firms appointing Brunel Professional Risks as their professional indemnity insurance broker for the first time in 2012, Brunel believes it is one of the fastest growing professional indemnity insurance brokers for solicitors. Brunel advises a wide…read more