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As professional indemnity crisis rumbles on, the SRA consults

My 3 partner practice has failed to receive any quote this year because we carry out 58% conveyancing. We have never been disciplined by the SRA and have a good claims record. Over the past 6 years we have paid premiums of approx £590,000 and insurers have paid claims of £69,000. The partners could now face personal insolvency in the ARP who want us to pay £240,000 premium inc IPT and interest. This is legalised extortion and those involved in the shambles should be ashamed of themselves.

23-Nov-2010

9:12 pm