SRA consultation update: the Lockton perspective

On the 23rd March 2018, the SRA opened a consultation, titled: Protecting the users of legal services: balancing cost and access to legal services. At the heart of the topic was the question of the correct level of consumer protection when using a solicitor or law firm, and whether changes could be made that would still offer adequate protection but in turn produce a more competitive and populous marketplace. When the consultation opened, the SRA can be quoted as follows “Our PII proposals will give firms more flexibility to choose the right level of insurance to suit their business and clients.” These comments and suggested reforms to PII generated strong opinions both in support and in challenge. The consultation closed on the 15th June and many have been waiting for the outcome.