Hampshire: CW Fellowes and Lloyds TSB get solicitors ready for abolishment of insurance ‘safety net’

CW Fellowes and Lloyds TSB are inviting legal minds across the south to attend a seminar that will prepare them for the Solicitors Regulation Authority’s (SRA) abolishment of the assigned risks pool (ARP), which is a 'safety net' for professional firms that cannot get cover from qualifying insurers in the open market. The new ruling comes into effect on October 1 this year. 

Entitled: ‘Professional Indemnity for Solicitors - What Lawyers may need to know in preparation for October 1, 2013, in 45 minutes’ the seminar – which will be held on Tuesday July 9 from 7.30am at the Botleigh Grange Hotel, Hedge End – will arm legal professionals with information to help them deal with the regulation change.

“The removal of this ‘safety net’ is causing a lot of uncertainty among legal firms as the October deadline approaches,” explained Karen Brown, corporate account director at Bristol-based Lockton Companies LLP, and one of the key speakers at the event. “A pragmatic approach is needed, and this seminar will provide what is needed to tackle the issue head on.”

In addition to the expertise of the key speakers, seminar participants will also be able to meet and talk through issues with managers from Lloyds TSB Commercial’s professional practices.

“All our specialist managers are accredited Lexel consultants with an understanding of practice management standards,” said Jennie Cartwright, professional practices relationship manager at Lloyds TSB Commercial, “and they will be on hand at the seminar to provide advice and support to help legal professionals emerge fighting fit from this challenging time.”

Speaking of the event, CW Fellowes managing director Adam Wilson said: “We have aimed the seminar at supporting the legal profession through a period of unprecedented change, by introducing them to businesses that could assist with whatever issues they are facing.”

The accounting firm acts for a growing number of solicitor practices, and has built a well-established team with an in-depth of knowledge in this specialist area. As a member of the Solicitors Special Interest Group of the Institute of Chartered Accountants in England and Wales, and of the Association of Partnership Practitioners, CW Fellowes is well versed with the issues facing the legal community.

CW Fellowes and Lloyds TSB began running professional practice seminars in January 2012 to aid legal practitioners in a changing environment. The events are held quarterly and the July seminar is the seventh event in the series.