Market split over tying solicitors into two-year deals before ARP abolition
Predictions of drop in rates sparks debate over signing up for long-term deals
There are some big changes afoot in the solicitors’ professional indemnity (PI) market, as the assigned risk pool (ARP) approaches its end, scheduled for 2013.
And with these changes has come a slew of new products, some of which have generated controversy. Jardine Lloyd Thompson (JLT), for one, has spoken out about the potential dangers of signing up to two-year deals ahead of the abolition of the ARP.
Mike Perry, partner at JLT, said it had taken the view that some law firms could be “being
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