The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
I read with interest Emile Woolf's article on chartered accountants' response to the requirement for professional indemnity insurance (The Lawyer, 17 February), and note that he is described as chairman of the Personal Injury Requirements Committee.
I chaired the committee (then known as the Practice Insurance Requirements Committee but a succession of claims does sometimes provoke a physical response!), at the time when the Approved Insurers Scheme was introduced and am currently a director of SIF.
Direct comparisons between the requirements of the solicitors' profession and chartered accountants are of limited validity. In particular, the chartered accountants were not faced with an existing mutual with a large deficit which will have to be met, whatever provision is made for the future.
Some of the comments made within the profession appear to overlook this, as well as the fact that it is in the nature of insurance that those with good claims records inevitably subsidise those with bad. Only the degree to which this occurs is in issue and this is being actively addressed by SIF through the introduction of risk banding.