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ARTICLE · 08 JANUARY 2010

Solicitors PI: The End For The Assigned Risks Pool?

CMS Cameron McKenna Nabarro Olswang
Explore more from CMS Cameron McKenna Nabarro Olswang

In November 2009 the Solicitors Regulation Authority opened a consultation on the future of the Assigned Risks Pool which, the chair of the SRA has said, is "costing a huge amount of money but demonstrating little benefit".

United KingdomInsurance
Peter Maguire
Peter Maguire
Richard Curd
Richard Curd

In November 2009 the Solicitors Regulation Authority opened a consultation click here (http://tinyurl.com/ydcbnbj) on the future of the Assigned Risks Pool which, the chair of the SRA has said, is "costing a huge amount of money but demonstrating little benefit".

The SRA has put forward a number of proposals:

The SRA would cease to issue ARP policies from 1 October 2010 (i.e. the next renewal date).

  • New firms would not be eligible for the ARP after 30 September 2010.
  • The maximum period a firm could remain within the ARP might be reduced to, say, 12 months.

The SRA's proposals are radical and likely to have a significant impact on the renewal season for 1 October 2010. For more detail on the proposed changes and the reasoning behind them click here (www.law-now.com/law-now/assignedriskspooljan10.htm).

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