‘How To Implement A Risk-Management Strategy In Your Business’

One of the main factors taken into account by insurers when considering the risk profile of a solicitor firm, and therefore whether the insurer is willing to insure a firm and the cost of that insurance, is the implementation and maintenance of risk-management strategies and procedures to minimise the risk of an insurance claim against the firm.  This issue is of such importance to insurers that there are over 20 questions in relation to a firm’s risk policies and procedures on the common proposal form.

The best firms think of risk management year round and not only at renewal stage. Implementing a risk management strategy is necessary for all firms to ensure that the appropriate controls are in place to prevent something going wrong and also, should it occur, to limit the effects of such an event.

Topics Covered Include:

  1. Why firms need to consider risk throughout their practice
  2. How to implement a risk strategy in your firm
  3. Emerging risk areas including minimum banking controls and cyber risks.

Speaker:

Julie Brennan trained and then worked as a solicitor in leading firm McCann FitzGerald, in the commercial litigation group.  In 2010, she moved into the area of risk management with Outsource and has been Managing Director of the Institute of Legal Research and Standards (ILRS) since March 2015.  The ILRS is the only Irish legal accreditation body with a team of six auditors working with firms all over the country. Julie is the most experienced auditor of Irish law firms, having worked on over 400 audits over the last seven years.  Julie regularly gives presentations to Bar Associations around Ireland on risk management and has lectured in the law Society in this area.

Category of CPD: Regulatory (or Management and/or General)*
Duration: 1.15 Hours

(*which you can also use as Management or General CPD if you have already done your mandatory Regulatory and/or Management hours, respectively).

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