Law Society Urges Action As Negligence Insurance Plan Ends

Law360, London (April 19, 2021, 1:45 PM BST) -- A legal trade body has warned that retired solicitors could soon find themselves on the hook for negligence claims after an insurance fund for shuttered firms closes in September.

Former bosses of law firms that have closed down will no longer have access to insurance under the Solicitors Indemnity Fund, the Law Society said on Friday.

The mutual fund provides professional indemnity insurance for firms that have closed, in case former clients make accusations of negligence dating back decades. But, from September, the fund will be closed to claims, meaning that retired solicitors could need to seek alternative "run-off" cover.

"Make no mistake,...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!