According to a report by the Financial Times, solicitors and surveyors could be particularly susceptible as private housebuyers, developers and lenders who lost out through falling property prices hurry to meet the deadline for filing claims alleging professional negligence.
Paul Castellani, partner at Reynolds Porter Chamberlain, said: ‘Many of the last-minute claims will be opportunistic as organisations or individuals try to beat the deadline, but even unsuccessful claims cost a lot of money for professional indemnity insurers to defend.’
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