Lawyers’ body warns against abandoning compensation fund

By Najiyya Budaly (February 16, 2022, 13:15 GMT) – The Law Society said on Wednesday that an insurance fund for historical negligence claims against lawyers should not be scrapped because ending the scheme would weaken protection consumers.

The independent professional body, which regulates solicitors in England and Wales, said it had joined forces with a consumer group, the Legal Services Consumer Panel, to oppose plans by the Solicitors Regulation Authority to abandon the Solicitors Indemnity Fund.

Lawyers are required by law to carry professional indemnity insurance, which protects them against the risk of clients suing them for negligence. Most policies are sold with a run-off clause…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!



About Author

Comments are closed.