SRA proposes aggregation limit and run-off cut for compulsory PI cover
The Solicitors Regulation Authority has proposed cutting the limit of compulsory professional indemnity cover to £500 000 for any one claim, and introducing an aggregation limit, in its consultation on the PI minimum terms published today.
The current minimum limit for solcitor's PI is £2m for any one claim, or £3m for incorporated firms.
The legal watchdog also mooted reducing the requirement for compulsory run-off cover from three
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