The shortfall of the law.
An estimated £432m shortfall is threatening the future of the Solicitors' Indemnity Fund. Edmund Tirbutt says this could be good for brokers.
Most recent media attention on the solicitors' professional indemnity(PI) market has focused on the possibility that the Solicitors' Indemnity
Fund (SIF) could fold, creating opportunities for brokers to place
business in the open market. While there is much speculation about this,
it is not a foregone conclusion and certainly would not happen
overnight.
At present, all 9500 firms of solicitors in England and Wales are obliged
to receive up to their first £1m of cover via SIF and use the open market
on
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
- Takeover target Direct Line posts £189m operating loss
- Markerstudy gets CMA greenlight to complete £1.2bn Atlanta deal
- FCA warns insurers, again, on undervaluing total loss motor claims