Assigned Risks Pool

Assigned Risks Pool-15
This means we can identify and secure cover for all types of legal practice, from sole traders and 2-3 partnership firms, through specialist conveyancing and personal injury practices to large multi disciplinary firms.We do not adopt a one size fits all approach, and seek the firms that truly stand out in the market.Funds that a group of investors put together to invest for mutual benefit.

This means we can identify and secure cover for all types of legal practice, from sole traders and 2-3 partnership firms, through specialist conveyancing and personal injury practices to large multi disciplinary firms.We do not adopt a one size fits all approach, and seek the firms that truly stand out in the market.Funds that a group of investors put together to invest for mutual benefit.

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The Professional Indemnity Insurance (PII) market for solicitors in England and Wales has experienced many issues during these last 20 years with compulsory indemnity limits increasing, the arrival and departure of unrated insurers, the abolishment of the Assigned Risks Pool, the Minimum Terms and Conditions being reviewed and amended, recession driven claims and more recently the introduction of claims arising from cyber related fraud.

All of these issues have affected the cost and availability of PII in one way or the other.

As a result, this has led to a change to Simon's more familiar workload and has seen him move towards developing other markets, such as advising D&O insurers in relation to claims for costs arising out of civil and criminal investigations overseas, the USA in particular.

Simon has also seen his client base grow concerning media work having acted for some of the national newspapers in relation to privacy, defamation and libel claims which have been made against them.

Pools were especially popular in the 1920s and early 1930s but now have been regulated out of existence.

The Indiana Compensation Rating Bureau (ICRB) is a statutory rating organization.

Having been the principal Costs Draftsman for the Solicitors Indemnity Fund before and after they entered into run-off in 2000, Simon has worked for most of the insurance market that followed the Solicitors Indemnity Fund including (but not limited to) AIG Insurance, Zurich Professional & Financial Lines, Travelers Insurance, AON Claims Solutions, QBE Insurance, Catlin Insurance, Royal Sun Alliance, Hiscox Insurance, the Assigned Risks Pool, Am Trust, Mitsui and Inter Hannover.

In the course of working with the Solicitors Indemnity Fund Simon had involvement in three sets of case managed litigation where the Solicitors Indemnity Fund were faced with seven figure claims for costs from respectively, The Bristol & West Building Society, The Nationwide Building Society and Paragon Finance PLC.

This makes placing solicitors’ professional indemnity insurance a job for experts.

For solicitors, professional indemnity insurance is effectively a ‘licence to practice’ as without it, the Solicitors’ Regulatory Authority (SRA) will not issue a practice certificate.

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