Solicitors Indemnity Fund

The Solicitors Indemnity Fund

The Solicitors Indemnity Fund was established by The Law Society of England and Wales to provide compulsory professional indemnity cover to all solicitors in private practice in England and Wales between the period 1987 to 2000. In 2000 this cover was placed within the insurance market and the Solicitors Indemnity Fund entered into run-off. The long tail nature of the run-off is expected to extend for a period approaching 15 years. As a consequence it became important to the SIF to carefully manage the downsizing of its operation consistent with a reducing volume of business.