A professional firm has seen off a claim for damages by a client as its retainer letter clearly set out the limit of its duties. “This case is yet another reminder of the vital role played by a well-drafted retainer…read more
Cybercrime and fraud now the most common offences.
Over five million cases of cybercrime and fraud occurred in 2016, according to the annual Crime Survey for England and Wales (CSEW), making it the most common offence in the country. Professional firms must redouble their efforts to protect themselves…read more
Four out of ten professionals buy PII on price
Four out of ten (39{0a6a65c996ed4169444354e707b897cdb00dbefc1d0429e8febb9bf11027ba53}) professional firms say the cost of cover is the most important factor when selecting professional indemnity insurance. The standard of service provided by the insurance broker is also vital, with over one third (34{0a6a65c996ed4169444354e707b897cdb00dbefc1d0429e8febb9bf11027ba53}) rating…read more
Refund of court fees scrapped by the Ministry of Justice
The Ministry of Justice is to scrap the refund of court fees in the County Court and High Court from March 2017 for cases that have been settled or discontinued. The Government says refunds were costly to administer and that…read more
Review may cut the cost of defending a legal action
High legal costs for firms taking or defending professional indemnity claims may fall, following a review of fixed recoverable costs to be led by Lord Justice Jackson. The review, which will be completed by July 2017, will recommend whether to…read more
Cost of litigation in the spotlight
Detailed assessment of legal costs is required by the courts, even when these are within the overall budget following a recent ruling. The decision will help to keep the cost of litigation under control and will benefit insurers which usually…read more
Cyber-ransom attacks soar says leading insurer
At the same time cyber-attacks on smaller businesses are increasing says a government report. Ransomware attackers hack into a business’s systems and encrypt the data so that it is unusable. It then demands a ransom to provide an encryption key…read more
Professional negligence adjudication extended
The pilot, launched in February 2015 for claims against solicitors, can now be used to adjudicate claims against a wide range of professionals. It is now only the complexity of the matter which may make the scheme unsuitable for a…read more
Insurance claims against bankrupt businesses
Making an insurance claim against a bankrupt company or person has become easier following a revision of the relevant law. The Third Parties (Rights against Insurers) Act 2010 came into force on 1 August 2016. Now third parties can make…read more
Insurance Act 2015 and the Duty of Fair Presentation
The 12 August 2016 saw the coming into force of the Insurance Act 2015, which has been described by some commentators as the most significant revision of insurance law in over a century. However, other commentators are less convinced that…read more
