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Nick Gurney-Champion By the late 1990s, many in the profession argued SIF premiums were too high, with larger firms subsidising smaller. It was suggested a market solution would be cheaper, and the profession voted to close SIF and obtain PII on the open market. SIF was put into run-off and closed to new entrants on 1 September 2000. Firms closed before that date were told they would get SIF coverage indefinitely, which remains the position. This does not apply to firms closing subsequently and never has. By 2004, SIF had considerable reserves; more than needed for claims of the firms closed pre-September 2000. So, the Law Society decided some of this would be used for post six-year run-off cover (PSYROC) for the firms which closed without a successor practice after 2000. It was also decided this additional cover would continue for claims notified before September 2017, at which point SIF was expected to close.

I stephanie boyceLegal services actLegal services consumer panelSolicitors regulation authorityLaw societySolicitors indemnity fundSolicitors regulationWorking groupநான் மாற்றாந்தாய் பாய்ஸ்சட்டப்பூர்வமானது சேவைகள் நாடகம்சட்டப்பூர்வமானது சேவைகள் நுகர்வோர் குழுவழக்குரைஞர்கள் ஒழுங்குமுறை அதிகாரம்சட்டம் சமூகம்வழக்குரைஞர்கள் இழப்பெதிர்காப்புப் நிதிவழக்குரைஞர்கள் ஒழுங்குமுறைவேலை குழு