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25 March 2010

Ann Bertelsmann the Risk Manager of the Attorneys Insurance Indemnity Fund (AIIF), informs us that a decision was made by the Board on 16th March to exclude (as from 1 July 2010) professional negligence cover to attorneys in respect of all bridging finance matters, except those where the finance has been obtained exclusively for the payment of necessary disbursements, such as transfer duty and rates and taxes.

The profession will be informed of this decision and will be advised not to sign any undertakings to bridging finance companies in respect of such finance.

AIIF website

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