Law firms face closure as insurance costs set to double

SOME legal firms may be forced out of business due to huge hikes in the cost of professional indemnity insurance.

According to the Law Society, the cost of insurance is expected to have increased by more than 100% for firms in some cases, although it expects to have more accurate figures in the coming weeks.

The deadline for obtaining insurance for around 2,200 firms around the country was December 1. Solicitors are unable to practice without insurance.