Professional perils

Solicitors Regulation Authority consultation on Solicitors Indemnity Fund

The Solicitors Regulation Authority (SRA) has launched a consultation on options for the future of post six-year run-off insurance cover (PSYROC) and the Solicitors Indemnity Fund (SIF). PSYROC is an additional cover for firms that close without a successor practice, on top of the six-year run-off cover provided by their professional indemnity insurance, said the SRA. It has been provided through the SIF, which is a mutual indemnity scheme itself in run-off since 2000.