The Law Society's professional indemnity insurance (PII) initiative aims to create a stable and competitive insurance market to ensure affordable and accessible insurance for the entire profession.
The Law Society has criticised a report by the Legal Services Consumer Panel which suggests that there should be a single compensation fund for all legal service providers.
The Law Society continues to support the abolition of the assigned risks pool (ARP) and introduction of the extended indemnity period (EIP)
The Law Society responded to the second review of financial protection arrangements, which included our views on financial stability of insurers and minimum acceptance periods for quotations.
The Law Society urged the SRA to reconsider its proposals for client financial protection arrangements and put forward an alternative approach to the assigned risks pool (ARP).
The SRA's decision to adopt a tiered approach of £10m tranches for ARP liability in 2012 is in keeping with the agreed position
The SRA has made several changes to the Solicitors' Indemnity Insurance Rules, which took effect from 1 October 2010.
The Gazette reports on the Law Society's support for the abolition of the single renewal date.
Lexcel accreditation may result in lower PII rates or provide more favourable treatment from insurers
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