As a sole practitioner, I welcome Solicitors Regulation Authority plans to reduce the minimum indemnity cover and regret that the Law Society opposes this policy.
Individual firms are mature enough to make their own decisions as to what cover they need. The Society favours the ‘public interest’ at whatever cost, whereas the SRA is rightly concerned that there is a functioning profession left to serve the public.
High overheads destroy law firms and professional indemnity insurance premiums remain too high.
Stanley Jacobs, London N3
