Industry News October 2018 

The Law Society’s annual survey of professional indemnity insurance (PII) …

has confirmed general perceptions that premium costs are rising, after years of relatively ‘soft’ market which have put non-US PII into the second-worst category of profitability for the insurance industry.

It also continues to warn of cyber-scammer risks, which affected one in three law firms last year, even though only 3% of reported data breaches have resulted in financial loss.

The LSB has approved an application by the Bar Standards Board (BSB) to remove the controversial Quality Assurance Scheme for Advocates (QASA) from the BSB handbook. Barristers remain accountable for the quality of their advocacy services in general law, and to the BSB.

The Association of British Insurers, and the MOJ, have both given public assurances that the financial benefits for insurers of the proposed injury claims reforms will be transparent and open to scrutiny.

Justice secretary David Gauke has announced plans for divorce law reform, including to remove requirement to show fault by the other spouse.

The pay gap for junior and trainee lawyers between those joining city commercial firms and those who want to do publicly funded work gets ever wider. The former are now expected to receive five times more than the latter

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