SRA consider ban on unrated indemnity insurers

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 only requires insurers to be authorised by the Prudential Regulation Authority or having 'passporting' agreement if based the European Economic Area (EEA).

The consultation, which began on Wednesday January 22nd, has been launched in the wake of Latvian insurer Balva's collapse.

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