SRA confirms ARP changes
The Solicitors Regulation Authority (SRA) has confirmed sweeping changes to the Assigned Risks Pool (ARP) ahead of a full policy statement to be issued on 18 April.
The news comes after a consultation into client financial protection arrangements launched by the SRA in December last year.
In October 2011 the amount of time a firm can remain in the ARP, for those unable to secure professional indemnity insurance (PII), will be reduced from 12 to six months and from October 2012 the ARP will be funded jointly by qualifying insurers and the profession, with liability for claims arising from firms who have not taken out insurance moving from the ARP to the
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