Regulator Extends Indemnity Insurance Cover For Lawyers
Law360, London (May 13, 2020, 2:43 PM BST) -- The Solicitors Regulation Authority said Wednesday that attorneys struggling to secure professional indemnity insurance because of the COVID-19 outbreak can request extensions from their insurers.
The SRA, the legal watchdog for the profession in England and Wales, said there have been practical difficulties associated with the coronavirus outbreak that have stopped firms from securing or renewing professional indemnity insurance — policies that cover lawyers for the costs of defending themselves if they are accused of giving improper or negligent advice.
The SRA said that lawyers and law firms that are struggling with their indemnity insurance can negotiate with their insurer to extend the...
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