More law firms will go bust

Small law firms will go to the wall and another bigger firm collapsing, like Halliwells, cannot be ruled out, with the risks made worse by rising insurance professional indemnity premiums and lack of available cover, the Times warns.

Premiums are due this month. Some practices are having to pay up to three times as much as last year after a rise in negligence claims and moves by several big insurers to reduce their exposure to law firms, it says.