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THE lead story "SIF fudge infuriates City firms" (The Lawyer, 29 September) described my mood as "jubilant" following the council meeting. My mood was far from jubilant.
I was encouraged by the support shown for mutuality, but am conscious that much is to be done as we investigate offering choice in how the profession purchases indemnity insurance.
Despite the consultation exercise which showed majority support for mutuality, there remains a significant body that favours the open market. Such views cannot be ignored and if there is a way in which the advantages of mutuality can sit alongside the freedom of the open market then such an avenue must be explored.
SIF intends to co-operate in this investigation in every way that it can. At the same time, it will continue its programme of reform, looking in particular at how greater flexibility for individual firms can be introduced without compromising the high level of protection to the profession and the public that SIF currently offers.