Write to: The Editor, The Lawyer, 50 Poland Street, London W1V 4AX, Fax 0171 734 0534
I read with amusement that lawyers are complaining about 50 per cent increases in their Solicitors' Indemnity Fund (SIF) premiums.
Aren't they lucky? I work from home in the intellectual property and competition law fields and have done so for more than three years.
I have never made a claim on the fund. My contributions for the forthcoming year will be 4.8 times the current premium (that is 480 per cent).
The SIF premium is my highest overhead (I have no wages or rent to pay). It would be deceptive to suggest that this increase is caused, in the main, by anything other than my increased turnover. Perhaps we should specify the indemnity portion of the hourly charging rate separately on bills to clients.