SPG response to the SRA regarding SIF
Solicitors Indemnity Fund – post six-year run-off cover.
The Solicitors Indemnity Fund (SIF), run by Solicitors Indemnity Fund Limited (SIFL), provides indemnity cover for claims made more than six years after a firm has closed and which had no successor practice.
After deciding not to close SIF, the SRA say that it cannot run indefinitely in its current form. They are therefore consulting on proposals for a scheme that they can run.