Risk Services - Risk Management
Solutions … Not Just Insurance approach to addressing Law Firms risk management needs recognizes that Insurance is ” only “ the most cost effective approach for addressing the risks the firm is either unwilling or unable to retain.
JRS assists firms in analyzing the following components of the “Cost of Risk” for the firm to help determine the most attractive insurance alternatives to address their needs:
- Time the firms lawyers, managers and staff invest in developing &\or updating policies & procedures that mitigate the firms exposure to claims
- Investments the firm makes in services provided by consultants to develop &\or update policies & procedures that mitigate the firms exposure to claims
- Financial and reputational cost – not covered by insurance – retained by the firm stemming from claims .
- Cost of insurance
JRS assists law firms in evaluating cost effective alternatives to addressing the firms “Cost of Risk” by addressing the following issues in meetings and\or by developing seminars & webinars for the firm
- Managing Law Firm Professional Liability Related “Cost of Risk”
- Sources and Consequences of Professional Liability Claims Against Law Firms
- Trends Frequency & Severity of Lawyers Professional Liability Claims
- Intersection between Rules of Professional Responsibility and Professional Liability Claims Against Law Firms
- Trends in grievances, disciplinary actions and other regulatory proceedings
- Intellectual property related professional liability claims
- Technology related exposures faced by law firms