UK solicitors' regulator proposes lower PI limits

The UK's Solicitors Regulation Authority (SRA) has proposed
reducing the amount of mandatory professional indemnity (PI)
insurance cover that law firms must buy, arguing that most claims
are settled well under the current limit.
The SRA said it wants to reform a "one-size-fits-all"
regime that is creating barriers to entry and pushing up prices for
users of legal services.
The current rules mean that law firms must have minimum cover of
£2mn ($2.8mn) for a single claim, rising to ...