SRA Handbook

Maximum liability of the fund

Back to version 21

Version 21 of the Handbook was published on 06/12/2018. For more information, please click 'History' Above

Rule 12: Maximum liability of the fund

12.1

The liability of the fund as stated in Rule 8.1(c) shall in no event exceed in respect of each such claim the indemnity limit for the relevant indemnity period.

12.2

All claims arising from the same act or omission (whether or not made or intimated or arising out of circumstances notified during the same indemnity period and whether or not involving the same or any number of different practices or previous practices and/or members of such practices or previous practices) shall be regarded as one claim.

12.3

If a payment exceeding the indemnity limit is made to dispose of any such claim (or, in circumstances within Rule 12.2, claims) for loss (including claimants' costs) such as stated in Rule 8.1(c), then any liability of the fund for costs and expenses under Rule 8.1(d) shall be limited to such proportion of such costs and expenses as the indemnity limit bears to the amount of the payment so made.

12.4

The provisions of this Rule 12 shall not apply in relation to an expired run-off claim, in respect of which the provisions of Rule 8.5 shall apply.