SRA's minimum terms change in doubt after LSB delays approval decision
The Solicitors Regulation Authority’s plan to cut the mandatory professional indemnity limit for solicitors in time for the October renewal season looks in doubt after the Legal Services Board extended the time-frame for making a decision on the change.
The SRA had applied to the LSB for approval to reduce the compulsory PI limit to £500 000, from the current level of £2m, or £3m for limited liability partnerships.
The LSB received the SRA's
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