PRESIDENT’S MESSAGE RE: PROFESSIONAL INDEMNITY INSURANCE
The Council of the DSBA has decided to prepare submissions to the Legal Services Regulatory Authority and to the Law Society concerning the environment under which Solicitors are required to obtain and maintain Professional Indemnity Insurance (“PII”) and to examine whether or not it might be possible to reform the operation of the PII market and to improve the environment under which the profession currently operates with regard to substantial premiums that are currently being charged to many members by the Insurance Industry and the manner in which we are currently obliged to deal with PII.
Before finalising our submissions however we would be anxious to consult with you, our members to obtain your views and guidance in relation to the submissions that we propose to make.
We want our submissions to be informed by the views that are expressed to us by our members and this will also reinforce the weight that should be attached to these submissions.
With that in mind, we set out below a link to the questionnaire that we have prepared which comes with an explanation of the background position.
Given that we are hoping to have our submissions prepared and ready to issue by the end of June we would be most grateful if you could revert to us within a period of 14 days with your completed questionnaire.
We hope that as many people as possible can participate in this process as we are anxious to canvas as many views as possible on such an important issue.