The Solicitors' Indemnity Fund has agreed an undisclosed settlement with Nationwide Building Society over alleged conveyancing errors committed by hundreds of solicitors' firms.
The agreement concludes two years of litigation involving 500 separate legal firms. It concerned lending transactions made in the 1980s and 90s.
Law Society members recently voted to scrap the mutual SIF in favour of the open market.
From September 2000, legal firms will have the option of buying their professional indemnity cover from a panel of approved insurers – the members of which have not yet been decided – or through a group policy which is being set up.
An SIF spokesman said it was bound by a confidentiality agreement from revealing the size of the settlement.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
