Over 100 law firms have less than two weeks to obtain professional indemnity insurance (PII) failing which they must close their practice by 29 December, the Solicitors Regulation Authority (SRA) announced today (18 December).
The regulatory body has identified a total of 117 law firms still requiring insurance as of 16 December – none of which have been allowed under PII regulations to bring in new business since 1 November – and is helping them to prepare for closure.
