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Almost a third of firms now renew their professional indemnity insurance (PII) on 1 April, and we are reminded of the ongoing difficulties solicitors face in obtaining cover.

The sad news of the administration of VFS Legal, the latest in a number of funders servicing the claimant market, will inevitably have a knock-on effect on those who have used their services over the years.

A solicitor manager has an integral role to play in the administration or liquidation of a distressed law firm.

In a recent article by Neil Rose at Legal Futures, it was highlighted that there has been a recent rise in law firms in England and Wales reporting financial problems to the Solicitors Regulation Authority (SRA).

From the off, there has been a lot of commentary about the impact the pandemic was going to have on the legal sector. It was initially expected that during the pandemic, we would see an increase in the number of law firm insolvencies. The reality was that for the first 7 months of the year it was a calm period in terms of new projects, distressed or otherwise.