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Interests in common

Presidents’ and Secretaries’ conference
There are more than 90 local law societies across England and Wales. Three of these – Birmingham, Bristol and Kent – predate the national Law Society, which was founded in 1825. Birmingham Law Society now has more than 5,000 members, while the Association of South Western Law Societies, comprising Monmouthshire, Bristol, Devon & Somerset, Plymouth, Gloucestershire & Wiltshire, and Cornwall law societies, has a combined membership of more than 10,000.
Jonathan Rayner
Some of the larger local law societies are based in conurbations with vibrant business communities offering ample scope for law firms to prosper; Manchester Law Society, for example, has 3,600 members. Others, such as Scarborough or Harrogate law societies, have smaller catchment areas. Despite this disparity, all local law societies face broadly similar challenges, including delivering value to members and championing diversity and inclusion. The online Presidents’ and Secretaries’ Conference 2021 set out to address these and other issues.

Bristol , City-of , United-kingdom , Monmouthshire , United-kingdom-general- , Leicestershire , Manchester , Worcestershire , Harrogate , North-yorkshire , Paola-uccellari , Gina-samuel-richards

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

Fourteen months to find a solution

By Frank Maher28 June 2021
Solicitors Indemnity Fund
For the first time since 1976, solicitors and staff from practices which have closed may find from October 2022 that they have no insurance against professional liability claims.
Frank Maher
Practices which close without a successor practice must have six years’ run-off cover under the SRA Minimum Terms and Conditions. After that, the Solicitors Indemnity Fund (SIF) has provided cover. That will cease next year.
The risk is not illusory. SIF statistics published in 2016 show that approximately 10% of claims are made after six years. A recent claim in the Court of Appeal against the Halliwell Landau partnership (not a SIF case) arose from an alleged act in 2003 – a year before the firm had converted to an LLP which collapsed into administration in 2010.

London , City-of , United-kingdom , Halliwell-landau , Legal-services , Law-society , Solicitors-indemnity-fund , Gazette-online , Legal-services-act , Royal-charter , லண்டன் , நகரம்-ஆஃப்

SRA grants one year of grace on indemnity fund closure

SRA grants one year of grace on indemnity fund closure
lawgazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lawgazette.co.uk Daily Mail and Mail on Sunday newspapers.

Anna-bradley , Solicitors-regulation-authority , Law-society , Solicitors-indemnity-fund , அண்ணா-பிராட்லி , வழக்குரைஞர்கள்-ஒழுங்குமுறை-அதிகாரம் , சட்டம்-சமூகம் , வழக்குரைஞர்கள்-இழப்பெதிர்காப்புப்-நிதி ,

SRA grants year of grace on indemnity fund closure

SRA grants year of grace on indemnity fund closure
lawgazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lawgazette.co.uk Daily Mail and Mail on Sunday newspapers.

Anna-bradley , Solicitors-regulation-authority , Law-society , Solicitors-indemnity-fund , அண்ணா-பிராட்லி , வழக்குரைஞர்கள்-ஒழுங்குமுறை-அதிகாரம் , சட்டம்-சமூகம் , வழக்குரைஞர்கள்-இழப்பெதிர்காப்புப்-நிதி ,

SRA postpones indemnity fund closure for 12 months

SRA postpones indemnity fund closure for 12 months
lawgazette.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lawgazette.co.uk Daily Mail and Mail on Sunday newspapers.

I-stephanie-boyce , Anna-bradley , Solicitors-regulation-authority , Law-society , Solicitors-indemnity-fund , நான்-மாற்றாந்தாய்-பாய்ஸ் , அண்ணா-பிராட்லி , வழக்குரைஞர்கள்-ஒழுங்குமுறை-அதிகாரம் , சட்டம்-சமூகம் , வழக்குரைஞர்கள்-இழப்பெதிர்காப்புப்-நிதி ,

Regulator Grants Reprieve Over Solicitors' Insurance Fund

Regulator Grants Reprieve Over Solicitors' Insurance Fund
law360.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from law360.com Daily Mail and Mail on Sunday newspapers.

United-kingdom , Britain , Solicitors-regulation-authority , Solicitors-indemnity-fund , ஒன்றுபட்டது-கிஂக்டம் , பிரிட்டன் , வழக்குரைஞர்கள்-ஒழுங்குமுறை-அதிகாரம் , வழக்குரைஞர்கள்-இழப்பெதிர்காப்புப்-நிதி ,

Announcement expected on SIF closure

Solicitors Regulation Authority will disclose next week whether it will ditch or defer plans to shut the Solicitors Indemnity Fund.

I-stephanie-boyce , Legal-services-consumer-panel , Solicitors-regulation-authority , Law-society , Solicitors-indemnity-fund , Sarah-chambers , நான்-மாற்றாந்தாய்-பாய்ஸ் , சட்டப்பூர்வமானது-சேவைகள்-நுகர்வோர்-குழு , வழக்குரைஞர்கள்-ஒழுங்குமுறை-அதிகாரம் , சட்டம்-சமூகம் , வழக்குரைஞர்கள்-இழப்பெதிர்காப்புப்-நிதி

Don't close the SIF in this tough insurance market, SRA urged | News

Law Society and Legal Services Consumer Panel says alternative arrangements must be made.

I-stephanie-boyce , Anna-bradley , Legal-services-consumer-panel , Solicitors-regulation-authority , Law-society , Solicitors-indemnity-fund , Sarah-chambers , நான்-மாற்றாந்தாய்-பாய்ஸ் , அண்ணா-பிராட்லி , சட்டப்பூர்வமானது-சேவைகள்-நுகர்வோர்-குழு , வழக்குரைஞர்கள்-ஒழுங்குமுறை-அதிகாரம் , சட்டம்-சமூகம்

SIF closure – what happens next?

How the Law Society is addressing the closure of the Solicitors Indemnity Fund.

Legal-services-consumer-panel , Legal-services , Law-society , Solicitors-indemnity-fund-limited , Solicitors-indemnity-fund , Solicitors-act , Legal-services-act , Legal-services-consumer , சட்டப்பூர்வமானது-சேவைகள்-நுகர்வோர்-குழு , சட்டப்பூர்வமானது-சேவைகள் , சட்டம்-சமூகம்