The Law Society and insurers The St. Paul have renewed their joint venture for at least another five years.
The two organisations have been working together since the abolition of the Solicitors Indemnity Fund in 2000. Since then The St. Paul has become a leading professional indemnity player, insuring around 20 per cent of the solicitors’ market.
The next phase of the joint venture comes as the renewal period for professional indemnity approaches. It was welcomed by the Law Society. Peter Farthing, chair of the professional indemnity committee, who stressed the importance of professional indemnity "for the protection of the public and the profession".
Solicitors have until 30 September this year to renew their insurance policies.