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ARP replaced by EIP for solicitors with indemnity insurance issues

175 firms still in the new Exetended Indemnity Period, that replaced the ARP in September.

The new Extended Indemnity Period replaced the Assigned Risks Pool for firms who are unable to obtain qualifiying indemnity insurance by 30th September 2013.Such firms are now given a 30 day period to continue to practice and to try to obtain new cover. If qualifying insurance is obtained, the new insurer must backdate the policy to the start of the EIP. If not, firms will enter a cessation period [CP] of 60 days when they can not accept new instructions, but are permitted to continue work in connection with existing instructions.

Originally posted 2013-10-16 00:00:00.

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