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Frank you are completely correct on the points you make and yes all solicitors should respond to the SRA online questionnaire.
What is quite interesting is that according to the SRA's own figures the average annual cost of PI cover per solicitor is just £1,437 per year. The SRA's estimated saving is about 10% so that is a hoped for average saving of just £143 per practising solicitor per year. That is not a sum that is going to carry any weight when a potential new entrant to the legal professional puts together a business plan. It is also not a saving that is going to make any difference to the cost of legal services. The tiny saving which the SRA envisages clearly demonstrates that this is an attempt to find a solution for a problem that does not exist.

However, it is a 'saving' that may have very serious consequences for those clients who have a claim and find out that their solicitor is under-insured, which is already an issue as a result of aggregation.

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