13 September 2023
The Solicitors Regulation Authority (SRA) has chosen London insurer PoloWorks as its delivery partner for managing the Solicitors Indemnity Fund (SIF), starting on 1 October.
Paul Philip, SRA chief executive, said Polo ‘have excellent claims-handling expertise and are already familiar with our systems’.
Paul Andrews, chief executive officer at Polo, said the new arrangements would ‘lead to a reduction in the scheme's running costs, compared to the previous arrangements, meaning more money will be available for the fund's core purpose of settling claims’.
SIF protects consumers for negligence claims brought more than six years after a firm has closed.
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