Remember the Solicitors Indemnity Fund (SIF)? Every firm contributed at varying levels according to turnover and claims history and were entitled to £1m cover in return, writes Philip McCormack, associate at RPC, in NLJ this week. As the current compensation fund appears to be paying out more than it takes in, recent proposals for a 50% cut to the practicing certificate levy may not be the “most prudent move”, he suggests, but there could be an alternative—a tiered fund similar to SIF.
13 November 2014
Groundhog Day for funding compensation?
MOVERS & SHAKERS
Browne Jacobson—Caroline Barker & Tom Walker
Browne Jacobson recruits regulatory experts Caroline Barker and Tom Walker to bolster health, government and corporates practices
Jackson Lees Group—Paul Harrison, Helen Innes & Sorcha McMullan
Partner and paralegals bolster clinical negligence team at Jackson Lees Group
Stone King—Manchester
Stone King triples Manchester footprint with office move as law firm’s rapid growth journey continues
NEWS
Sanctions can derail commercial disputes long before judgment, making early planning essential
Pressure is mounting for a dedicated UK AI law, but deciding what it should achieve remains the central challenge
Legal professional privilege has checked the SRA’s investigative powers, exposing difficult questions about tackling suspected abusive litigation
Group claims, disputed costs and judicial recruitment dominate the latest courtroom round-up
Landlords face fresh registration duties as procedural reforms reshape the civil courts
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