The availability of expert testimony could be tightened in 2008 following the sub-prime lending crisis and credit crunch, it has been warned.

Nik Carle, partner at the Nottingham office of legal practice Browne Jacobson, suggests that there could be a great amount of competition among those attempting to secure such witnesses to determine whether secured loans advice they have given to clients in recent months has been ill-judged.

"It looks increasingly likely that 2008 will mark a renewed period of recrimination and claims-making in the secured lending sector - and this will demand the use of experts to advise courts and litigants on the prudence, or otherwise, of past lending criteria," he explains.

Whether Professional Indemnity (PI) claims originate from accusations of negligence or arise from other disputes, the latest crisis could see firms forced to deal with cases in a more open manner than has historically been the case.

Mr Carle asserts that once financial services practitioners "open up" their internal procedures for examination, it may become more difficult to determine what constitutes "appropriate sub-prime lending practice".

Neil Pointon, chief executive of specialist Lloyd's of London insurance broker PYV, recently warned that any activity which does arise as a result of the crisis "is ultimately bound to put pressure on PI premiums".

PYV are one of the UK's leading providers of professional indemnity insurance. This news article has been produced by Adfero in collaboration with PYV and its unauthorised use is not permitted.