PR.com: Business Directory, Press Releases, Jobs, Products, Services, Articles
 
Businesses Articles Press Releases Follow @PRcom
Press Release Pricing | News by Category | News by Country | News by US Region | Recent News | PR.com News on Your Site
 

Press Releases

 
Total Insurance

Press Release


Receive press releases from Total Insurance: By Email RSS Feeds:

Solicitors' Professional Negligence Claims Cost £250m Annually - Total Insurance Responds


Total Insurance has remarked on the size of solicitors' professional negligence claims.

Bradford, United Kingdom, September 19, 2014 --(PR.com)-- Professional negligence claims against solicitors cost around £250 million annually, notwithstanding the additional costs of defending claims.

Additional negligence claims involving other legal service providers, such as conveyancers, legal executives and barristers, pushes this figure up even higher.

Commenting, Kevin Burke, spokesperson for solicitors professional indemnity insurance brokers Total Insurance, said:

"The size of solicitors professional negligence claims are undoubtedly a concern for solicitors.

"Firms may implement the best risk management processes to reduce the likelihood of these claims occurring, but problems can arise in even the best-run practices.

"Time constraints, administrative errors and regulatory compliance issues are turning up the pressure on solicitors, and could see the overall number of claims rise even higher in coming years.

"To protect themselves, solicitors should use the advisory service offered by solicitors PII brokers, so they can defend themselves against claims without breaking the bank and settle claims quickly when required.

"Managing costs is important for firms in all industries, especially as the UK economy slowly gathers pace, but it is particularly essential for solicitors, who are seeing their profit margins shrink in the face of LAPSO, the referral fee ban and success fee caps.

"We hope that solicitors who wish to manage their costs for the coming year have already sent off their professional indemnity insurance proposal forms!"

Notes for editors
Total Insurance is a commercial insurance broker that specialises in solicitors professional indemnity insurance. Call 01254 355533 or 01274 360210 to speak with them, or visit http://totalinsurance.uk.com.
Contact Information
Total Insurance
Kevin Burke
01254 355533
Contact
www.totalinsurance.uk.com
Twitter: http://www.twitter.com/totalinsurance4
Facebook: https://www.facebook.com/totalinsurancesolutionsltd

Click here to view the list of recent Press Releases from Total Insurance
Promote Your Business