1989 Ed.] Solicitors (Professional Indemnity) Rules
[CAP. 159
M 7
[Subsidiary]
set out in rule 11 and to the extent, and subject to conditions and exclusions, set out in Schedule 3 against all losses to the indemnified whensoever occurring arising from any claim first made against the indemnified during the period of indemnity in respect of any description of civil liability whatsoever incurred in connection with the Practice or from any such claim made during or subsequent to the period of indemnity arising out of circumstances notified to the Company during the period of indemnity as circumstances which may give rise to a claim.
(2) A former solicitor, if not provided with Indemnity under subrule (1), shall be entitled to be provided with Indemnity out of the fund to the extent set out in paragraph 3 of Schedule 3 against the losses and in respect of the civil liability referred to in subrule (1) arising from any claim first made against him during the currency of the Professional Indemnity Scheme as if a receipt referred to in rule 9 had been issued to him but no receipt pursuant to rule 9 will be issued and no contribution shall be payable.
(3) Rules 11, 13 and 16 and paragraphs 1 (except subparagraph (a)), 4, 5 and 8 (except subparagraph (9)) of Schedule 3 shall apply to a former solicitor as if he were an indemnified.
11. Provision of Indemnity
(1) Indemnity shall be provided in any one or any combination of the following ways
(a) by payment, in or towards satisfaction of the claim or claimant's costs or both, to or to the order of the claimant making the claim;
(b) by payment, in respect of the claim, claimant's costs or costs and expenses incurred in respect of the defence, settlement or compromise of the claim or any combination of them, to or to the order of the indemnified against whom the claim is made;
(c) by payment, in or towards discharge of costs and expenses incurred in respect of the defence or settlement or compromise of the claim, to or to the order of the legal advisers, adjusters or other persons by whom or in respect of whose services such costs and expenses were incurred.
(2) Notwithstanding any insolvency or bankruptcy of any indemnified, the Company may, for the purposes of subrule (1), decide in which or which combination of the above ways any Indemnity shall be provided.
12. Indemnity exclusively from the fund
(1) Indemnity shall be provided exclusively out of the fund and any claim thereto shall lie and be made solely against the fund.
(2) The Company shall have no obligation to provide any Indemnity save to the extent that the same can be provided out of the fund.
1989 Ed.] Solicitors (Professional Indemnity) Rules
[CAP. 159
M 7
[Subsidiary]
set out in rule 11 and to the extent, and subject to conditions and exclusions, set out in Schedule 3 against all losses to the indemnified whensoever occurring arising from any claim first made against the indemnified during the period of indemnity in respect of any description of civil liability whatsoever incurred in connection with the Practice or from any such claim made during or subsequent to the period of indemnity arising out of circumstances notified to the Company during the period of indemnity as circumstances which may give rise to a claim.
(2) A former solicitor, if not provided with Indemnity under subrule (1), shall be entitled to be provided with Indemnity out of the fund to the extent set out in paragraph 3 of Schedule 3 against the losses and in respect of the civil liability referred to in subrule (1) arising from any claim first made against him during the currency of the Professional Indemnity Scheme as if a receipt referred to in rule 9 had been issued to him but no receipt pursuant to rule 9 will be issued and no contribution shall be payable.
(3) Rules 11, 13 and 16 and paragraphs 1 (except subparagraph (a)), 4, 5 and 8 (except subparagraph (9)) of Schedule 3 shall apply to a former solicitor as if he were an indemnified.
11. Provision of Indemnity
(1) Indemnity shall be provided in any one or any combination of the following ways
(a) by payment, in or towards satisfaction of the claim or claimant's costs or both, to or to the order of the claimant making the claim;
(b) by payment, in respect of the claim, claimant's costs or costs and expenses incurred in respect of the defence, settlement or compromise of the claim or any combination of them, to or to the order of the indemnified against whom the claim is made; (c) by payment, in or towards discharge of costs and expenses incurred in respect of the defence or settlement or compromise of the claim, to or to the order of the legal advisers, adjusters or other persons by whom or in respect of whose services such costs and expenses were incurred.
(2) Notwithstanding any insolvency or bankruptcy of any indemnified, the Company may, for the purposes of subrule (1), decide in which or which combination of the above ways any Indemnity shall be provided.
12. Indemnity exclusively from the fund
(1) Indemnity shall be provided exclusively out of the fund and any claim thereto shall lie and be made solely against the fund.
(2) The Company shall have no obligation to provide any Indemnity save to the extent that the same can be provided out of the fund.
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