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Lord Chancellor's Department (1)
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Legislation
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To ask the Parliamentary Secretary, Lord Chancellor's Department, if she will ensure that sole practitioner solicitors can be indemnified for fraud; and if she will make a statement. - Includes figure.
To ask the Parliamentary Secretary, Lord Chancellor's Department, if she will ensure that sole practitioner solicitors can be indemnified for fraud; and if she will make a statement. - Includes figure.
Asked by
Ann Winterton
(Conservative)
Answered by
Baroness Winterton of Doncaster
(Labour)
Answering body
Lord Chancellor's Department
Type
Written questions
Status
Answered
Tabled on
29 January 2003
For answer on
6 February 2003
Answered on
6 February 2003
Ann Winterton: To ask the Parliamentary Secretary, Lord Chancellor's Department if she will ensure that sole practitioner solicitors
can be indemnified for fraud; and if she will make a statement. [95337]
Ms Rosie Winterton: It is a general principle of English law that one cannot be indemnified against one's own dishonesty. So in that
regard it is not possible for a sole practitioner solicitor, or any other person, to have insurance cover against his/her own fraud.
For this reason most professional indemnity insurance policies contain a dishonesty exclusion which excludes the liability of the
insurer to indemnify any person involved in the dishonesty, or fraudulent act, giving rise to the claim. Any "innocent" partners or
employees not involved in the dishonesty or fraud will still have the benefit of cover under the policy. The current position,
whereby solicitors obtain indemnity insurance from commercial providers, does not differ from the previous arrangements under which
indemnity cover was provided by the Solicitors Indemnity Fund.
However, the Law Society continues to maintain a Compensation Fund, under which it is possible to make a claim for loss arising out
of the dishonesty of a Solicitor, including a sole practitioner, in circumstances where the claim is excluded from the practice's
professional indemnity cover. Any payments from the fund are made on a discretionary basis by the Law Society, having regard to the
statutory provisions, rules and guidelines pursuant to which the fund is maintained. The level of cover provided by the Compensation
Fund is up to £1 million per claim.
Subjects
Fraud; Liability; Insurance; Solicitors
Date
6 February 2003
Reference
95337; 399 c433W;399 c431W
House
House of Commons