Changes to solicitors’ PI insurance limits delayed
Reduction in minimum cover rules will not be in place by October renewal season.
The Legal Services Board (LSB) has issued a warning that it is delaying a decision on the proposed change to minimum limits for solicitors' professional indemnity cover.
The Solicitors Regulation Authority (SRA) had proposed on 15 July that the compulsory minimum level of cover should be reduced to £500,000 from £2m (£3m for incorporated practices).
A decision was needed by the end of August in order to prepare the way for the traditional solicitors' PI renewal season in October.
However the LSB
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
- Wakam receives PRA approval for new £500m GWP UK insurer
- Aviva’s David Martin on the art of the possible
- Brokers push for more from RSA/NIG