Risk management: ignore it at your peril...

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!

I also hope you find the interview with Richard Linsell interesting as I will be including similar such sections in future issues. As ever, any comments or ideas really help so do not hesitate to contact me at cpoynton@ark-group.com.

Caroline Poynton, Editor

Features

A tale of the unexpected: can you plan for all eventualities? Free
When Denton Wilde Sapte were faced with the evacuation of their entire Chancery Lane offices, the partners faced a challenging time that could have lost them a lot of business. Mark Menhennet, a partner at Denton Wilde Sapte, describes that fateful day and how they managed to win through to close the deal.

Getting the most from executive coaching Free
Senior managers, partners and executives are in high-pressure positions: there is little time to reflect on their decisions and performance. They are also in isolated positions; there are few people inside the organisation that they can turn to for objective advice and support and that they can openly talk to. Jo Larbie explains how executive coaching can fill this void.

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

Knowledge Management for legal sources in a multinational environment Free
Computer based management of legal sources has become a must for law firms wanting to be cost effective and meet quality standards. T.A. Falkvoll, a lawyer, identifies the fundamental elements of lawyering and examines strategies and objectives as well as some basic standards for a software based knowledge management system.

Maximising the potential of your workforce Free
Coaching is rapidly becoming a corner-stone for management and staff development world-wide. Anna Britnor Guest, director of the Coaching & Mentoring Network, explores how far-sighted organisations harness the power of coaching to help partners and team members hone their people and leadership skills.

Regulars

Interview: LLPs: the way forward for law firms managing risk? Free
with Richard Linsell, head of professional practices group, Mayer, Brown, Rowe & Maw