The protection is designed to provide support and if there is full SRA engagement, early mitigation and intervention. It’s main features are as follows;

 

• It covers the fee earners and personnel in a position of responsibility (such as COLP and COFA).

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• Provision of a dedicated specialised legal advice team that operate in the regulatory environment, representing law firms in just such instances.

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• Provision of a dedicated helpline to provide initial support and analysis of what if any actions need to be taken.

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• Supports the law firm in identifying and collating information and data that the investigator may require.

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• Preparation of a brief to counsel and supporting the law firm in collating relevant documents once a notice of investigation has been received.

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• Provision to the law firm of a legally qualified specialist to undertake the instruction.

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• Insurance cover for up to £250k for own and SRA legal fees, and costs awarded against them following an outcome by the SRA (fines and Damages don’t come under the remit of the policy due to this being contrary to public interest).

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• Cover is for SRA regulated law firms in England and Wales.