The International Bar Association has published new principles on professional indemnity insurance for bar associations and regulatory bodies to consider in their jurisdictions. The guidelines come from a working group made up of the IBA Issues Commission Policy Committee and IBA Legal Policy & Research Unit.
The working group found there to be little uniformity in indemnity insurance requirements across different jurisdictions, with some jurisdictions not requiring it at all.
The IBA report outlines 8 principles on which bar associations and regulatory bodies should focus:
- Maintaining public confidence