ARP applications down 87% on last year

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The Solicitors Regulation Authority (SRA) has said that 53 firms have applied to join the assigned risks pool (ARP) after failing to find solicitors’ professional indemnity insurance on the open market as of October 4.

Last renewal saw 411 firms apply to the ARP, 87% more than this year, while 309 firms ended up being covered.

SRA chief executive Antony Townsend said: “These figures demonstrate that our programme of reforms is having the intended effect. We continue to monitor the effect of these changes not only upon firms in the ARP, but also small firms who are particularly vulnerable to increases in insurance premiums.”



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