Solicitors’ Indemnity Mutual Insurance Association goes into run-off
SIMIA, the mutual insurance company for professional indemnity insurance above £1m to firms of solicitors based in England and Wales, has confirmed it is to cease taking on new business.
The announcement follows a meeting on 24 March.
IMIA was initially established in 1986 by a group of 38 solicitors' firms to reduce insurance costs and prevent under-capacity in the market.
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