Solicitor Compliance and Regulatory

Solicitors Professional Misconduct (SPM)

The Solicitors Regulation Authority (SRA) no longer requires Professional Indemnity policies to include indemnity for the defence of actions by the SRA or the Solicitors Disciplinary Tribunal leaving many solicitors without the means to defend themselves in potential misconduct investigations or proceedings. SPM provides this important cover for all the staff at the insured’s practice.

Compliance Officer Support Insurance (COSI)

The new roles of Compliance Officer for Practice (COLP) and Compliance Officer for Finance and Administration (COFA) are onerous positions within law firms in a new regulated environment. These roles carry significant elements of personal liability.

COSI provides Compliance Officers with specialist compliance support through a comprehensive library of advice, documents and training videos. However, should the SRA investigate the firm, the COLP and COFA have legal expenses insurance to cover the cost of defending investigations and possible subsequent tribunal proceedings. The cover also extends to meeting any adverse costs claimed against the Compliance Officer.