Law Society
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Conveyancing Firms Prominent on SRA List of Uninsured Firms
In an unprecedented move, the Solicitors Regulation Authority (SRA) late on Friday, published the names of 136 firms that they advise have been forced to close as a result of failing to secure professional indemnity insurance (PII). The timing appears to have been well thought out, allowing the Law Society to remove the names of…
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Is the Law Society looking to cash in on the Balva collapse?
Baron Rothschild famously advised investing during crises, a strategy he used after the Battle of Waterloo. Recently, the FCMC ended Balva’s operations, affecting law firms reliant on unrated insurers. The Law Society may seize this moment to create an indemnity scheme for small firms, while the SRA considers financial rating criteria for insurers amid ongoing…