The Legal Services Regulatory Authority (LSRA) reminds practising barristers that they have an obligation to supply the LSRA with evidence of their Professional Indemnity Insurance ‘qualifying insurance policy’ within 14 days of the commencement date, and within 14 days of each renewal date, of that policy.
A practising barrister who is ceasing to provide legal services or who is ceasing to provide legal services as a practising barrister must provide evidence that he or she has established and is maintaining a policy of run-off cover within 14 days of ceasing to provide legal services and within 14 days of the renewal of such run-off cover.
Practising barristers should familiarise themselves with the obligations contained in the Legal Services Regulation Act 2015 (Professional Indemnity Insurance) Regulations 2019 which were issued by the LSRA in November 2019 and are available here.
If you are a member of the Law Library and are covered by the group scheme, you do not need to furnish evidence directly to the LSRA. The Bar of Ireland will provide this to the LSRA on your behalf.
The LSRA has issued practical information for practising barristers regarding professional indemnity insurance here.