49 law firms enter PI cessation period
12 law firms have been forced to close their businesses after failing to obtain professional indemnity cover, the Solicitors Regulation Authority has confirmed, while 49 have yet to renew PI cover.
A total of 49 firms had entered the cessation period for not renewing their PI cover as of 6 January 2015, minutes from the SRA's most recent board meeting revealed.
Of these, twelve have already
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