Lawyers and insurance are a historically volatile mix, which may explain the heat being generated among Victoria’s 1400 barristers over their new PI insurer. Munich American Risk Partners (MARP) seems to have a stranglehold on the niche now that the state’s Legal Practice Board has approved it as their single PI insurer.

But even though they only have until June 30 to get their cover in place, the barristers are hanging tough and demanding more details of MARP’s master policy. Trouble is, part of the deal is that it stays confidential, and MARP won’t bend.

Several barristers have apparently tried and failed in their attempts to get a copy of the so-called “secret document”. The board has agreed to review a Suncorp Metway master policy, but it’s running out of time to start renegotiating now. “It’s a travesty,” a member of the Bar said yesterday. “What are they hiding?”

We don’t know, but some sources have suggested the MARP policy includes a claims experience discount providing future reimbursement of premiums if claims remain stable. Not a big deal, perhaps, but enough to have forced the board into a couple of emergency meetings.