- Three essential lessons to avoid property fraud
With property fraud on the rise, law firms need to be increasingly careful to avoid being duped. The risk of professional embarrassment, as well as a hefty increase in their insurance costs should a client bring a claim against them, are too...
- Are you getting a good deal on PI insurance?
There’s a myth that it’s hard to find insurers willing to cover small law firms. I recently asked a group of sole practitioners in Birmingham how many insurers or managed general agents they thought there were in this part of the...
- What are the risks and benefits of accepting early renewal offers on professional indemnity insurance?
Most solicitors will accept an early renewal offer for professional indemnity (PI) insurance if given the opportunity, rather than go to the open market to find a new policy, according to a survey conducted by Miller of law firms. An...
- Travelers – use of email
Email is now the principal method of communication for most businesses including lawyers and their clients and contacts. The risks are similar to those that lawyers have always faced with written communication but for email they are increased by...
- Travelers – fraud and dishonesty
Dishonesty in law firms
Theft, fraud and dishonesty are a risk for all businesses, but law firms are doubly vulnerable. Not only do they often have significant amounts of money in their accounts, they are also at risk of...
- Travelers – drafting errors
Drafting is a skill that lawyers have to learn and it’s required in all fields of law, whether you are producing a lease, a commercial contract, a will or an agreement for division of the financial assets of a divorcing couple. Insurers...
- Travelers – communication with professionals
This includes communication with experts such as barristers, clinical consultants, accountants, insolvency specialists and surveyors, and also lawyers acting for other parties. Poor communication can cause delay, increased costs and even...
- What are the emerging risks for law firms?
“The legal market is in a remarkable state of flux. In less than two decades, the way in which lawyers work will change radically,” writes Richard Susskind in Tomorrow’s Lawyers. These changes will pose new risks for law...
- Back to the future: Do the SRA's proposals achieve its objectives?
The SRA is once again looking to reduce the minimum level of PI cover to £500,000. But do its proposals achieve their objectives?
In March 2018, the SRA published a consultation, “Protecting the users of legal...
- Travelers – communication within your practice
Communication should be a two-way process. When it isn’t, there is considerable scope for confusion and misunderstanding. Standard procedures will help to ensure that internal communication is effective.
Where problems may arise...
- Travelers case study: Pension trustees liability
Pension Scheme Trustees have numerous statutory duties and are entrusted with the responsibility for making decisions which affect the members of such schemes. These obligations placed on Trustees continue to increase as new legislation is...
- Time is precious...according to Travelers
Senior managers, officers and directors are well rewarded for their professional abilities. However, these positions come with a great deal of risk. After all, mistakes happen to the best of us, and these are roles which, by their very nature,...
- Travelers – legal knowledge
Most negligence claims arise from administrative errors, not from lack of legal knowledge. But there are still a number of claims every year which are caused by practitioners getting the law wrong.
This is usually where lawyers are...
- Miller Insurance Services: How legal technology can help your law firm
What prompted you to set up your own practice?
I’d spent over 25 years working for large law firms and I felt I needed a new challenge. I wanted to break free, try something new and to indulge my interest in legal...
- Travelers case study – time is precious
Here at Travelers, we recognise it’s our responsibility to support you by providing leading coverages that give your customers real peace of mind. We also understand the important role we can play by supplying you, our brokers, with the...