11th Feb 2020 13:02
(Alliance News) - Randall & Quilter Investment Holdings Ltd on Tuesday said MGA Inperio Ltd has launched an indemnity cover policy aimed at freelance solicitors in the UK, who following recent regulatory changes, were given permission to provide legal services.
Randall & Quilter said the cover, which Inperio established alongside underwriters Accredited Insurance Ltd, is regulated by the UK's Solicitors Regulation Authority. Randall & Quliter was working with Inperio via its subsidiary Accredited Insurance.
An indemnity is a protection from financial loss.
"The facility, fulfils a growing demand for professional indemnity cover for freelance solicitors regulated by the Solicitors Regulation Authority, following a recent rule change," Randall & Quilter said.
In sweeping changes which were effective from November 2019, solicitors were able to provide legal services on a freelance basis. Prior to this, legal work offered by solicitors who were not part of an authorised law firm was limited.
Inperio Chief Executive Officer Simon Lovat said: "Since the introduction of the new freelance solicitors regulations in November 2019 the legal industry has been looking for a suitable solution and now we are in a position to offer it."
Randall & Quilter shares were flat at 176.00 pence each in London on Tuesday afternoon.
By Eric Cunha; [email protected]
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