Release notes for SRA Handbook, Version 19
1 October 2017
The nineteenth version of the Handbook is published on 1 October 2017, and all the changes in this version come into effect on that date.
The changes are outlined in these notes: please refer to the Handbook itself for full details.
Amendments to the SRA Minimum Terms and Conditions of Professional Indemnity Insurance (Appendix 1 to the SRA Indemnity Insurance Rules 2013)
These amendments remove a barrier to firms who wish to leave SRA regulation and switch to another approved regulator. An approved regulator is a regulator listed in, or approved under, Schedule 4 to the Legal Services Act 2007.
The effect of the amendments is to remove the obligation on such firms to have run-off cover for claims arising from work done while the insured firm was under SRA regulation. However, it only applies if the firm’s new regulator is a signatory to a protocol on terms agreed by the SRA which relates to switching between approved regulators.