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Bloomsburry Family law


Practical steps to an effective risk-management strategy

Law firms may take a varied view of risk from a wide perspective, including risks to the firm’s reputation to a narrow regulatory approach to managing specific claims. Whatever the approach, all firms must now adopt some kind of risk-management strategy if they are to survive the potentially damaging claims of the current environment. Chris Andrews, a risk partner at Clifford Chance, explains his role and the practical steps firms can take to ensure they are covered against every eventuality.

A risky business: The new perils of law-firm risk management

Risk management has been an area easily overlooked in the annals of law-firm management. The solicitor’s indemnity fund (SIF) provided firms with the security of knowing that they would be covered, but with the demise of the SIF and the advent of an open-market insurance regime, firms are facing a more perilous path in ensuring they are adequately covered against all eventualities.

A man for all seasons

In January 2003, Ralph H. Baxter, Jr. was voted in for his 5th term as chairman and CEO of Orrick, Herrington and Sutcliffe, LLP. In the thirteen years of his tenure, the firm has doubled in size, quintupled in revenues and expanded from a domestic to international practice. As success often breeds success or at least the hope of it, Baxter is now more enthusiastic than ever to extend the firm’s growing international presence, despite the prevailing economic uncertainty. Caroline Poynton talks to the man leading the pack.