Misc Flashcards
1
Q
What is the level of professional indemnity insurance required by a firm?
A
Law firms are required to take out/maintain PII of at least £2 million for any one claim or £3 million in the case of a limited liability firm (minimum).
2
Q
What is the max. success fee uplift amount that a solicitor can charge in a CFA?
A
100%.
In claims for PI, the amount is limited to 25% of the damages.
3
Q
What is the difference between the Legal Ombudsman/SRA re complaints?
A
The Legal Ombudsman deals with complaints about all legal professionals by the clients who retained them. Complaints about the legal service itself.
Complaints for breach of the SRA code of conduct - SRA.
