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Insurance / reinsurance

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The average professional indemnity insurance (PII) premium is equivalent to 5% of a law firm’s annual turnover—but small firms pay more
The Solicitors Regulation Authority (SRA) has chosen London insurer PoloWorks as its delivery partner for managing the Solicitors Indemnity Fund (SIF), starting on 1 October. 
Professional indemnity insurance (PII) covers the loss of a fee paid to solicitors following a misrepresentation, the Court of Appeal has held.
Seven in ten (72%) firms have not purchased cyber insurance amid a hardening professional indemnity cover market overall, research has shown.
Businesses that suffered losses during the pandemic have won a landmark COVID-19 business interruption test case against insurers.
Legal expenses insurance can play a vital role in maintaining access to justice and should be promoted more, according to the Association of Consumer Support Organisations (ACSO).
The Law Commission has highlighted serious safety concerns surrounding driverless cars, and has called on the government to impose a ban on remotely driving a vehicle from overseas due to lack of enforcement powers.
The final rules for bringing the Solicitors Indemnity Fund (SIF) under the control of the Solicitors Regulation Authority (SRA) have been agreed.
The Law Commission has published advice to the government on how to regulate remote driving on UK roads. 
The Solicitors Regulation Authority (SRA) Board has finalised rules to bring the Solicitors Indemnity Fund (SIF) under control and guarantee consumer protection for post six-year negligence claims following a consultation which closed on 3 January 2023. 
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MOVERS & SHAKERS

Muckle LLP—Rachael Chapman

Muckle LLP—Rachael Chapman

Sports, education and charities practice welcomes senior associate

Ellisons—Carla Jones

Ellisons—Carla Jones

Partner and head of commercial litigation joins in Chelmsford

Freeths—Louise Mahon

Freeths—Louise Mahon

Firm strengthens Glasgow corporate practice with partner hire

NEWS
One in five in-house lawyers suffer ‘high’ or ‘severe’ work-related stress, according to a report by global legal body, the Association of Corporate Counsel (ACC)
The Legal Ombudsman’s (LeO’s) plea for a budget increase has been rejected by the Law Society and accepted only ‘with reluctance’ by conveyancers
Overcrowded prisons, mental health hospitals and immigration centres are failing to meet international and domestic human rights standards, the National Preventive Mechanism (NPM) has warned
Two speedier and more streamlined qualification routes have been launched for probate and conveyancing professionals
Workplace stress was a contributing factor in almost one in eight cases before the employment tribunal last year, indicating its endemic grip on the UK workplace
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