Provided By Legal Practitioners Fidelity Fund
The Legal Practitioners Fidelity Fund (LPFF) Is A Fidelity Guarantee Fund, Which Exists In Terms Of The Attorneys Act. The LPFF Exists To Protect The Public Against Loss As A Result Of Theft Of Trust Funds. The Protection Pro… More
In an attempt to enhance its service offering to the profession, the Attorneys Insurance Indemnity Fund NPC (AIIF), has developed a new IT platform on which the Prescription Alert system is run. It will be remembered that the Prescription Alert system is a back-up diary system made available to the profession at no cost. All time barred matters can be registered on the Prescription Alert system.
Prescribed claims remain one of the main sources of professional indemnity claims. Practitioners conducting litigious matters of any sort are encouraged to register their matters on the system and to adhere to the reminders sent out by the system. In terms of the AIIF Master Policy, a penalty deductible (excess) is applied in the event of a claim where the matter was not registered with the Prescription Alert system and/or the reminders sent out by the system.
(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)