Monday June 1, 2020

Solicitors’ fund seeks ten-year levy

The SMDF faces liquidation if €16 million in support is not provided, writes Kieron Wood

7th May, 2011

The SMDF faces liquidation if €16 million in support is not provided, writes Kieron Wood

Reinsurers could refuse to pay up to €300 million in claims if the Solicitors Mutual Defence Fund (SMDF) goes into liquidation.

The SMDF, which insures around one in five solicitors, has liabilities of between €200 million and €300 million. Up to 90 per cent of this is reinsured and to cover the balance, the fund is now seeking a ten-year...

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