Howden publish latest edition of Pi Magazine
To read the latest edition of Pi magazine from Howden, please click the image below An influx of capital into the insurance market and competition between insurers and brokers has driven down the cost of many forms of insurance. That’s great news for insureds but the sustainability of pricing must be considered against a backdrop of […]
PII market remains steady despite Brexit uncertainty
Research has indicated that the majority of firms experienced a smooth renewal of their Professional Indemnity Insurance (PII).
The in between bit
Many firms, understandably, breathe a hefty sigh of relief once the renewal process is completed, sometimes forgetting that effective management of PI insurance is a year round process.
Reliable & Expert Indemnity Policies for Property Transactions is Vital
Searches UK are delighted to continue to offer conveyancers and solicitors with reliable and expert indemnity policies through Indemnities UK, backed by First Title Insurance plc.
Dreamvar v Mishcon De Reya: When will Professional Indemnity Insurers patience run out?
The Mishcon case is not an isolated incident. Professional Indemnity (PI) Insurers have been hit repeatedly by similar claims.
Bovis billed £7m to compensate owners of poorly-built homes
In the wake of Bovis Homes having to pay £7m in repair costs, new questions have been raised regarding the standard of new-build properties.
New tax evasion penalties for enablers
Lawyers and advisers who enable tax evasion may be subject to harsher consequences following the introduction of tougher sanctions at the start of 2017.
Builders should be advised accordingly
Home buyers from Taylor Wimpey have allegedly been failed by their conveyancing solicitors and are contemplating taking action, according to Leasehold Solutions. This is in regards to a failure of informing house buyers about the housebuilder’s policy to include 10-year doubling ground rents on leasehold properties which are newly-built. Commenting on the anger of some […]
Society of Licensed Conveyancers chooses Stewart Title as preferred supplier of title indemnity solutions
Stewart Title Ltd. is pleased to announce that the Society of Licensed Conveyancers (SLC) has selected Stewart Title as their preferred supplier of Title Indemnity products.
Data published ahead of SRA insurance consultation
The Solicitors Regulation Authority (SRA) has published analysis of professional indemnity insurance trends for law firms. The analysis will be used to inform the development of proposals for changes to minimum cover requirements. Data was collated after initial plans to alter the minimum terms and conditions were put on hold because the Legal Services Board […]
Redbrick Solutions assists firms in securing affordable indemnity insurance
Despite up to a third of firms moving their renewal date since the liberalisation of the PII market three years ago, brokers are still expecting 90% of firms to need to renew on the traditional 1 October deadline. Most firms are currently benefitting from a strong buyers’ market, with many insurers quoting 5% – 7% […]
Tiuta vs DeVilliers
Tiuta International Ltd v De Villiers Surveyors Ltd [2016] EWCA Civ 661 (01 July 2016)
Third of former Enterprise Insurance clients now on notice for lack of PI cover
A third of the former customers of a PI insurer declared insolvent by the Gibraltar Financial Services Commission are still without insurance, 28 days after the Commission made it’s ruling. The Solicitors Regulation Authority says firms previously covered by the now defunct Enterprise Insurance now without cover are on notice with individual action plans to […]
Why Wi?
Buyer expectations and seller limitations can be bridged using Warranty and Indemnity insurance
PI before you buy
Don’t leave yourself without adequate cover during the excitement of a transaction
Firms urged to start insurance renewals in good time
Those firms that are due to renew their professional indemnity insurance from 1 October are reminded that it is better to start the process sooner rather than later. Two thirds of solicitor practices have policies that run until 30 September. And the Solicitors Regulation Authority (SRA) is urging those that have not yet been in […]
CLC cuts regulatory fee rates, reports on a successful PII round
The CLC, the specialist property law regulator has today confirmed that it will reduce regulatory fees rates for firms by 20% with effect from 1st November 2016. The announcement follows a consultation on the proposed reduced rates and a formal decision by the governing Council. The proposals will now be passed to the Legal Services […]
Liquidators appointed for Gibraltar-based PII provider
Firms covered by the Gibraltar-based Enterprise Insurance Company Plc have until 22nd August to rearrange PII cover, after the firm was declared insolvent this week. A liquidator has now been appointed after the Gibraltar Financial Services Commission ordered the company to stop writing any new business on Monday. The firm currently provides cover for 50 […]
Conveyancers PI we Comply
The Legal Services Board (LSB) has approved the Council of Licensed Conveyancers (CLC) proposal for practices to move away from its Master Policy with an opt-out for Professional Indemnity Insurance to a more competitive open-market approach. Instead, five insurers have signed up to a Participating Insurers Agreement setting out Minimum Terms and Conditions of cover. […]
LSB signs off on CLC new indemnity insurance framework
The Council for Licensed Conveyancers new indemnity insurance plans have been approved by the Legal Services Board. The new open market approach will see cover capped at £2 million in aggregate over six years per firm. Firms will be able to apply for cover under the new system from the beginning of next month with […]
