News
The Solicitors Regulation Authority has unveiled plans to reduce the mandatory insurance cover to help small firms find the right level of protection. They will reduce the level to £500,000...
Richard Caplan Solicitors have been struck off and ordered to pay costs of £ 21,000 having failed to maintain professional indemnity insurance for the firm as well as acting dishonestly....
Thousands of law firms could be just weeks away from being plunged into uncertainty. According to this year’s Law Society survey of almost 600 firms, 22% are relying on unrated...
The insurance market doubts the SRA minimum rating plan can boost the solicitors’ PI market. Doubts are growing as to whether the possible introduction of minimum rating criteria for UK...
A recent High Court decision in the UK considered the extent to which a solicitor is entitled to rely on counsel’s advices in advising their client. This case will be...
An ICAEW member who admitted issuing 51 audit reports in the name of his firm when it was not registered as an auditor has been excluded from membership Edward Jenkins...
The Solicitors Regulation Authority (SRA) is considering enforcing a ban on professional indemnity insurers which score below a rating of B in its financial strength assessment. At present, the authority...
The Solicitors Regulation Authority (SRA) should this week publish a list of those law firms which were to have closed on 29 December because they failed to secure professional indemnity...
The way the legal profession is insured will be examined in the High Court this year in a major test case that could have implications for how all firms obtain...
More than 5 per cent of firms are facing forced closure by the Solicitors Regulation Authority (SRA) after failing to find insurance cover, risk experts claim, amid fears that practising...
SRA are still trying to work out how many legal firms don’t have professional indemnity insurance. A “substantial” number of law firms have failed to tell the Solicitors Regulation Authority (SRA)...
All signs point to 2014 being a “critical year for companies to better prepare to respond to security incident and data breaches,” warns Experian in its latest report on the future...
The market for professional indemnity insurance across ten European countries – namely, Austria, Belgium, France, Germany, Italy, Netherlands, Poland, Spain, Switzerland and the UK will be worth around €7.5bn by...
This briefing by Kennedys, brings you news of important cases that have taken place involving professional indemnity matters Read the full article here
SIX financial services firms have been sanctioned by the Central Bank for failing to hold professional indemnity insurance, as part of a crackdown to ensure compliance. The companies sanctioned were...
More than 100 firms have been warned to prepare for the worst case scenario after failing to secure professional indemnity insurance on the open market ahead of the 1 October renewal...
A finance manager at a failed provider of professional indemnity insurance to solicitors shielded its financial troubles through false and misleading accounts, a regulator’s investigation has found. The Gibraltar Financial...
Read the latest PII guide from the Law Society. Invaluable reading for Solicitors everywhere as they approach the 1 October common renewal date. View PDF
The number of law firms facing closure after failing to secure professional indemnity insurance has jumped to 175, the Solicitors Regulation Authority (SRA) announced today. The figure is more than...
The latest guidance notes on professional indemnity insurance from the Chartered Institute of Taxation contain some helpful information for members. The guidance note covers a range of questions, from how...
This month we are focusing on cyber-crime, the risks that are posed to businesses and individuals and how you can reduce these risks and indeed ensure you are covered if...
Source Kennedys Law LLP We have highlighted in our previous article Legal issues in cloud computing, several serious concerns which companies should take into account when opting for cloud computing services....
FCA set to take action on disclosing PI shortfalls The FCA is set to crack down on the lack of disclosure of shortfalls in professional indemnity insurance among advisers and...
As a recruitment professional, it isn’t only the success of your career which depends on your ability to match talented candidates to the jobs and companies which suit them best,...
Warning that 3,000 law firms are at serious risk of failure SOME of Britain’s biggest law firms could be forced to close or merge over the next few months, it...
Solicitors’ Professional Indemnity Insurance – The Importance of Insurer Solvency First there was Quinn, then Lemma and now Balva. Every insurance policy in existence is only as good as the paper it...
In this day and age’s service-based economy there is a whole range of professions that essentially provide advice for a fee. Legal and financial professionals are the most obvious examples...
The Solicitors Regulation Authority (SRA) requires all firms to take out a minimum level of professional indemnity insurance (PII) cover. However, the principals of each firm will need to form...
Arch Cru – Following the fourth anniversary of their suspension, Arch Cru funds have rarely been absent from the financial press, even being compared to the funds at the centre...
In Clark & Clark v In Focus Asset Management & Tax Solutions [2012] EWHC 3669 (QB), the High Court held that an investor can bring a substantial complaint to FOS,...
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