More than 400 firms left without solicitors' PI cover after deadline
The Solicitors' Regulation Authority (SRA) has received 409 applications from firms requesting entrance into the assigned risk pool (ARP) on the professional indemnity renewal deadline of 1 October.
Firms have a four week 'grace' period in which to find alternative cover but can submit a protective application to the ARP in the meantime which can be backdated until 1st October if they are unsuccessful.
A spokeswoman from the SRA said this meant more meaningful figures would be available at the end of the month.
Last year 411 made an initial application upon deadline and 269 ended up entering the pool after the grace period.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop