Professional indemnity insurance (PII) continues to dominate the legal agenda after the Solicitors Regulation Authority (SRA) yesterday (28 January) released figures revealing the market share of participating law firm insurers and separately launched a consultation that could see only rated insurers able to provide PII cover.
The regulatory body kick-started an eight-week consultation over whether all those applying to be added to a participating insurers list should have a financial strength rating of at least B from a recognised rating agency, representing a u-turn on its earlier policy to allow an open market.
