The Solicitors Regulation Authority (SRA) has taken over management of the Solicitors Indemnity Fund (SIF) to ensure future consumer protection for post six-year negligence claims. The new arrangements came into effect on 1 October 2023.
The SRA-run scheme will provide ongoing protection for clients and ensure efficient and effective operation. A new claim form with supporting information has been published to support members of the public in making claims.
The change in management will lead to a reduction in the scheme’s running costs, allowing more money to be available for settling claims. London insurance services provider Polo Works has been appointed to handle new claims and work closely with SIF panel firms for a smooth handover and continuity of service.