As if UK law firms didn't have enough financial issues with which to contend, a number also need to find new professional indemnity cover after the collapse of unrated Latvian insurer, Balva. 1,300 firms in all, comprising 7% of the UK solicitors' PI market, were insured with Balva. They have less than a month to find replacement cover. Balva's former broker is now reported to be inviting firms to transfer their business across to another unrated insurer, Berliner Versicherung AG, but the Law Society is counselling firms to consider the risks associated with such a move.