Firms in the pool

It has visited 181 firms so far this year—almost double the 96 firms visited in 2009/10. Since adopting new enforcement measures last July, 82 firms in the pool have closed down and 48 have obtained insurance on the open market. The cost of funding the ARP, which provides professional indemnity insurance to firms rejected by the open market, has been steadily increasing each year and now represents more than 15% of total premiums for solicitors in England and Wales, according to the Solicitors Regulation Authority. The ARP is due to be replaced in 2013/14.