Tag Results
Report: indemnity insurance market softening this year but underwriters wary of non-lawyer owners
Friday, 17 August 2012There are signs of a softer professional indemnity insurance market for some law firms this year, but underwriters are looking to handle alternative business structures with care, a new report has claimed.
Tags: ARP, assigned risks pool, conveyancing, mortgage fraud, professional indemnity insurance, Solicitors Regulation Authority
Posted in Indemnity insurance, Latest news
Closing the doors of the last-chance saloon
Thursday, 12 May 2011Michelle Garlick, a partner in the professional risk team at Legal Futures Associate Weightmans, considers the changes the SRA is planning to make to the professional indemnity insurance regime and is not surprised that it is not happening as quickly as insurers wanted. But in the meantime they will be reviewing their risk assessments and underwriting criteria very carefully.
Tags: ARP, assigned risks pool, Association of British Insurers, professional indemnity insurance, Solicitors Regulation Authority
Posted in Blog
Revealed: end to common renewal delayed as solicitors face ARP bill of up to £30m
Wednesday, 13 April 2011The Solicitors Regulation Authority has radically reworked its reforms of professional indemnity insurance, delaying the end of common renewal for two years and kicking the question of compulsory cover for financial institutions into the long grass. Solicitors will also be liable to pay up to £30m of claims arising from the ARP during its final year.
Tags: ARP, assigned risks pool, Law Society, professional indemnity insurance, Solicitors Regulation Authority
Posted in Indemnity insurance, News, Solicitors
Focus on assigned risks pool forces SRA to cut down other monitoring visits
Monday, 15 November 2010The focus on law firms in the assigned risks pool has led to a significant fall in the number of other monitoring visits conducted by the Solicitors Regulation Authority (SRA), Legal Futures can report. The SRA says the move is an example of its shift towards risk-based regulation.
Tags: ARP, assigned risks pool, monitoring, practice standards unit, Solicitors Regulation Authority, SRA
Posted in News, Solicitors
383 firms still in the ARP as insurers strongly back indemnity reform plan
Friday, 29 October 2010There are 383 law firms currently in the assigned risks pool, the Solicitors Regulation Authority has revealed. The news comes as the Association of British Insurers (ABI) gave a strong welcome to an independent report on the need for reform of professional indemnity insurance, saying the market can no longer tolerate periodic crises caused by a combination of “poorly enforced regulation and restrictive policy requirements”.
Tags: ARP, assigned risks pool, Association of British Insurers, professional indemnity insurance, Solicitors Regulation Authority
Posted in Indemnity insurance, News, Solicitors
Blog
Keeping the conversation going beyond Pride Month
As I reflect on all the celebrations of Pride Month 2024, I ask myself why there remains hesitancy amongst LGBTQ+ staff members about when it comes to being open about their identity in the workplace.
Third-party managed accounts: Your key questions answered
The Solicitors Regulation Authority has given strong indications that it is headed towards greater restrictions on law firms when it comes to handling client money.
Understanding vicarious trauma in the legal workplace
Vicarious trauma can happen to anyone who works with clients who have experienced trauma such as domestic or other violence, child abuse, sexual assault, torture or being a refugee.
Reports
Associates
