Although it will displease many of my colleagues, I support the retention of the Solicitors Indemnity Fund.
As a solicitor working in a small firm, I don't have the time or the desire to pile through pages of glossy brochures to find the best open market insurance deal for myself.
More importantly as a solicitor who has had a successful claim against me, I found the back-up of having a mutual fund invaluable.
We all make mistakes. While I agree those who are continually incompetent should be thrown out of SIF, my error was a small one and one that I have not repeated.
However if I had made the same mistake on the open market, my premiums could have skyrocketed forcing me out of the profession.
By abolishing a mutual fund we will also exile many good solicitors to the economic wilderness.
The Law Society made a courageous and necessary decision in keeping SIF.
Name and address withheld.