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Bloomsburry Family law

Risk & Compliance

Risk management special

Risk is a subject frequently ignored by law firms who were once able to sleep secure in the knowledge that negligence claims would be few and far between. Times are a-changing however, and with the number of claims rising against solicitors, risk management has come to the fore. Indeed, as this month’s articles will demonstrate, it is a perilous strategy to leave risk management on the back-burner!

Risk managment: from theory to practice

In the April issue of Managing Partner, our authors raised some important issues on the area of risk management. In this article, Bill Kirby, sales and marketing director at Axxia Systems, continues the debate with an assessment of what steps law firms should take once they''ve agreed on their general risk management strategy. In particular, he focuses on the work of the Law Society in its efforts to introduce minimum standards of operation across law firms.

Kimbells converts to LLP status

In a move to enhance the delivery of its legal services, Milton Keynes based commercial law firm, Kimbells, has announced that as of 1 May 2002, it has converted to a limited liability partnership (LLP).

Ignore risk management at your peril! Implications of a hard market…

After the closure of the Solicitors Indemnity Fund many firms enjoyed significantly lower insurance premiums – but could the honeymoon period be coming to an end sooner than expected? John Verry, the risk management practice leader at St Paul International, assesses the importance of risk management following recent suggesting insurers are considering raising their indemnity rates by ‘30 to 40 per cent’ this year.

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