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Daily Insurance Industry News
Thursday 22nd of February 2018
July 5, 2007

Zurich Welcomes New Solicitors’ Code of Conduct

by Gill Montia

Story link: Zurich Welcomes New Solicitors’ Code of Conduct

Zurich Professional as heralded the introduction of the new Solicitors’ Code of Conduct 2007 as a major step forward and is hopeful that rule 5 of the code, which deals with business management, will help to reduce the number of errors occurring in residential property transactions.

An analysis of the professional negligence claims dealt with by Zurich Professional reveals that some solicitors continue to make the same mistakes year on year.

In fact errors in residential property transactions and re-mortgages have been the most frequent source of notification for the six years to the end of 2006, accounting for 35% of all the claims and circumstances notified. In the main these related to missed time limits.

In the case of company and commercial claims, these make up only 4% of Zurich Professional’s notifications, but the company points out that the values of such claims are often high.

Zurich is particularly urging legal firms to review their existing diary systems to ensure that they are fully effective and that staff are competent in their use.

 

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