Solicitors Regulation Authority-proposed changes to Assigned Risks Pool

摘要

The Solicitors Regulation Authority (SRA) has announced a number of changes to the operation of the Assigned Risks Pool (ARP) following its recent consultation. The main changes are: 1.1In October this year, the amount of time a firm can remain in the ARP will be reduced from 12 months to six months; 1.2 From October 2012, the ARP will be funded jointly by qualifying insurers and the profession, with liability for claims arising from firms who have not taken out insurance moving from the ARP to the Compensation Fund.