Capita to carry out audit of qualifying insurers

The Solicitors Regulation Authority (SRA) has confirmed it will audit insurers supplying professional indemnity (PI) cover for solicitors.

The audit will be carried out by Capita, who manage the assigned risks pool (ARP).

It comes after Insurance Times last week reported that some insurers were planning to lobby the SRA after complaints that some were not paying their fair share of the ARP.

In a letter sent to qualifying insurers, the SRA said: "It is clear that this year insurance programmes have been structured in a variety of different ways leading to a call by insurers for an audit of the returns to ensure that declarations are compliant with the requirements set out in the Qualifying Insurer's Agreement."