Small law firms are ‘approaching a cliff edge in relation to longterm run-off cover’ but only one third of them know this, Law Society president Christina Blacklaws has warned as the society released the results of its annual professional indemnity insurance (PII) survey. Less than half the firms were aware the Solicitors Indemnity Fund (SIF) will close in 2020. SIF has provided post-six year run-off cover since the move to a market-based system of PII in 2000.
04 October 2018
Beware the indemnity cliff
MOVERS & SHAKERS
Clyde & Co—Suriya Ashok
Clyde Co strengthens energy transition and construction offering with hire of Suriya Ashok
Jurit—Nicole Gallop Mildon
Jurit appoints rare dual-qualified lawyer to expand Anglo-French private wealth expertise
Twenty Essex—Thomas Hibbs, Jack Hollingworth & Sam Pearce
Three new tenants join Twenty Essex
NEWS
The Financial Reporting Council’s revised Audit Enforcement Procedure will alter the balance of power in corporate investigations
A telecoms operator may be able to hold over under the Landlord and Tenant Act 1954, yet still be unable to secure a renewal: an outcome described as a legal ‘paradox’
Safety fears do not automatically justify shutting an interested person out of a statutory will application
Consumer credit law is heading for its biggest shake-up in 50 years, with the Consumer Credit Act 1974 set to yield much of its detailed statutory machinery to FCA rules
The Supreme Court has settled a long-running dispute over part-time workers: unfavourable treatment need be a significant or effective cause, not the sole cause
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