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Reducing mandatory limits will have negligible impact in reducing premiums which will only fall when:
a) solicitors have fewer claims (didn't they create the climate of 'someone else must be at fault for my loss' in the first place?),
b) the size and frequency of the claims they have reduces,
c) insurers don't have to pay claims where they are unable to collect the premium from the policyholder, and
d) insurers don't have to pay for claims for 6 years after a firm closes (again, often not having the means to pay any premium).