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Time to speak up in search for SIF solution


Nick Gurney-Champion
By the late 1990s, many in the profession argued SIF premiums were too high, with larger firms subsidising smaller. It was suggested a market solution would be cheaper, and the profession voted to close SIF and obtain PII on the open market.
SIF was put into run-off and closed to new entrants on 1 September 2000. Firms closed before that date were told they would get SIF coverage indefinitely, which remains the position. This does not apply to firms closing subsequently and never has.
By 2004, SIF had considerable reserves; more than needed for claims of the firms closed pre-September 2000. So, the Law Society decided some of this would be used for post six-year run-off cover (PSYROC) for the firms which closed without a successor practice after 2000. It was also decided this additional cover would continue for claims notified before September 2017, at which point SIF was expected to close. ....

I Stephanie Boyce , Legal Services Act , Legal Services Consumer Panel , Solicitors Regulation Authority , Law Society , Solicitors Indemnity Fund , Solicitors Regulation , Working Group , நான் மாற்றாந்தாய் பாய்ஸ் , சட்டப்பூர்வமானது சேவைகள் நாடகம் , சட்டப்பூர்வமானது சேவைகள் நுகர்வோர் குழு , வழக்குரைஞர்கள் ஒழுங்குமுறை அதிகாரம் , சட்டம் சமூகம் , வழக்குரைஞர்கள் இழப்பெதிர்காப்புப் நிதி , வழக்குரைஞர்கள் ஒழுங்குமுறை , வேலை குழு ,

Memory lane 19 July 2021


ABSs at risk of criminal ownership
The Law Society is pressing the Ministry of Justice to make an urgent amendment to the Legal Services Act to prevent non-lawyers with spent criminal convictions from becoming owners of alternative business structures. Provisions allowing for external ownership of law firms come into force in October.
19 July 2001
Callery ruling boosts claimant solicitors
Personal injury solicitors can sign up clients to conditional fee agreements at the outset and charge a 20% success fee in simple cases such as a ‘modest and straightforward road accident-style claim’, the Court of Appeal has ruled in the Callery v Gray test case. ....

Calleryv Gray , Legal Services , Ainslie Co , Ministry Of Justice , Law Society , Museum At New Scotland Yard , Legal Services Act , Black Museum , New Scotland Yard , Staple Inn , சட்டப்பூர்வமானது சேவைகள் , அமைச்சகம் ஆஃப் நீதி , சட்டம் சமூகம் , சட்டப்பூர்வமானது சேவைகள் நாடகம் , கருப்பு அருங்காட்சியகம் , புதியது ஸ்காட்லாந்து முற்றத்தில் , பிரதானமானது சத்திரம் ,