The majority of solicitors' professional indemnity (PI) notifications are for conveyancing work, according to a new report by Alexander Forbes Solicitors Claims Service.
The service revealed that 37% of PI notifications reported were related to conveyancing, with 19% coming from residential and 18% from commercial conveyancing. The volume of notifications related directly to the size of the firm, with 30% of sole practitioners' notifications relating to residential conveyancing. This figure fell to 13% for firms with 16 or more partners.
Litigation work also featured strongly, accounting for a quarter of notifications.
The survey examined the ten-month period since the closure of the solicitors' indemnity fund on August 31, 2000.