On the last day that firms can continue to practice under an emergency extension to their professional indemnity insurance PII, the Solicitors Regulation Authority has identified 176 firms at risk of closure as a result of failing to secure a qualifying insurance policy.
The extended indemnity period expires at midnight tonight (30 October) and firms that have been unable to obtain alternative insurance cover will then enter a period of 'cessation' where they have just five days to notify the SRA that they have ceased practising.
Any firms unable to continue to practise can access EXIT PI which has been launched for solicitors looking to exit the personal injury profession and/or administrators of firms.
EXIT PI can be accessed at www.exitpi.co.uk
EXIT PI is owned and managed by JMP Solicitors who are experienced in providing a smooth transition of service to the client in all accepted claims and have offices in Grantham, Warrington and London.
The extended indemnity period expires at midnight tonight (30 October) and firms that have been unable to obtain alternative insurance cover will then enter a period of 'cessation' where they have just five days to notify the SRA that they have ceased practising.
Any firms unable to continue to practise can access EXIT PI which has been launched for solicitors looking to exit the personal injury profession and/or administrators of firms.
EXIT PI can be accessed at www.exitpi.co.uk
EXIT PI is owned and managed by JMP Solicitors who are experienced in providing a smooth transition of service to the client in all accepted claims and have offices in Grantham, Warrington and London.
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