SIF extended

The Solicitors Indemnity Fund (SIF) is to be extended by another year to September 2022 to allow consultation on the future of post six-year run-off cover – subject to an affordability test. The decision comes against the backdrop of a hardening insurance market and mounting concerns within the profession at the lack of a viable alternative. SRA chair Anna Bradley said the extension will allow the SRA “to do the work necessary to agree a long-term position on whether there is a place for post six-year cover in its regulatory arrangements”.