Compensation Fund
The Law Society of Northern Ireland maintains by statutory authority a Compensation Fund. This Fund is uncapped and is maintained entirely by contributions from practising solicitors, and again is a prerequisite to the right to practice.
The Fund provides an additional guarantee to clients of recovery of losses incurred as a result of a solicitor's default [for example, because of insolvency] or otherwise than in circumstances covered by the Professional Indemnity Insurance arrangements.
