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Expert views and insight across our specialist areas.
Construction, Professional & financial risks, Directors and Officers... 1 more
Following our recent market review of the first quarter of 2024, we're delighted to provide an update at the end of H1 across Miller’s specialist areas.
Solicitors
Limiting your liability can be a useful tool to control your exposure in the event of a claim and deciding on the appropriate level of professional indemnity cover for your firm. However, it can be difficult to get this right and you need to be confident that the limitation will be valid and enforceable should it be challenged.
Law firms and their clients are desirable targets for payment diversion fraud. This is a result of the high value sums held and regularly being transacted from/to their client account. Miller’s Risk Manager, Calum MacLean and Sam Moore of Caytons consider where liability may lie, and provide practical guidance on how best to reduce the risks associated with this type of fraud for your firm and your clients.
Back in January, the SRA released its “Protecting the public: our consumer protection review”, which proposed fundamental changes to the account rules and circumstances for when law firms could hold client money. As part of Miller’s response to the consultation, we addressed points regarding the impact of such decisions on a firm’s professional indemnity insurance, which we share below.
According to The Advance Legal Trends Report 2023/24, managing hybrid working remains one of the biggest challenges for law firms.
Construction, Professional & financial risks
Are you asking your broker the right questions for optimal outcomes during your professional indemnity insurance (PII) renewal? Here are a few thoughts from Miller’s Construction PI team.
Deciding on the appropriate level of professional indemnity insurance to purchase for your law firm can be a complex process and include a variety of factors. Miller’s Technical Lead, Sam Pye, discusses below.
A risk register can act as a useful tool to help a law firm actively assess and manage the most significant risks for your business. In this article we take a closer look at the key things to include.
AI has the potential to revolutionise the provision of legal services, presenting significant opportunities to improve efficiency, cost and quality. However, debate around how safe it is to use in a professional environment continues, with liability a central part of the conversation.
Construction
Latent defects are a primary concern for project owners and developers, as they can result in significant financial loss to what would have been hoped to be a completed structure. Miller’s Jon Burke explains how including latent defects insurance into your project insurances can pay dividends if issues were to arise.