The Solicitors Indemnity Fund

Part of 2. Questions to the Counsel General and Minister for the Constitution – in the Senedd at 2:49 pm on 16 March 2022.

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Photo of Mick Antoniw Mick Antoniw Labour 2:49, 16 March 2022

I thank you for that supplementary question, and I think perhaps a little bit more than a gentle reminder is probably the case, because I think you're right—the potential impact of these changes—. These are changes where there's an indemnity fund that everyone contributes to for the post-six-year limitation period cover. So, smaller firms are very adversely affected, particularly those in the fields of things like conveyancing, wills and probate, where matters can emerge many, many years later. So, it disproportionately affects Wales, and we already struggle enough with the legal deserts that we have and the issues with regard to the sustainability of small firms within Wales. So, I've raised those concerns with the SRA and with the Law Society, who've been a strong advocate of retaining the indemnity fund. I will do so at the future meetings. I have already highlighted the fact that it is not just the legal profession that would be adversely affected, but it is also the consumers, those who depend upon legal services. And, of course, again, it erodes confidence in the legal profession. So, I thank you for those comments, and I will indeed pursue those issues.