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Top 100 play it cautious

06 March 2008
Issue: 7311 / Categories: Legal News , Procedure & practice , Profession
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News

Clients are increasingly asking their solicitors about their business continuity plans, according to Legal Risk Solicitors’ fifth annual survey.
More than three-quarters of the top 100 law firms have finalised a business continuity plan, while the rest have at least a draft plan in place.

However, just over a third of the 64 firms responding to the survey say they have tested their plans in the last 12 months.

The law firms responding to Legal Risk’s Top 100 Law Firm Professional Indemnity and Risk Management Survey 2008 include 22 of the top 30 firms and range from Magic Circle to the smaller firms.

Every firm states that it limits liability contractually at least part of the time. According to Legal Risk, limitation of liability clauses “are becoming more sophisticated and involve more than a simple liability cap...we doubt many firms limit liability 100% of the time”.

Some 14% of firms changed broker, while 9% changed insurer in a soft insurance market.
Legal Risk partner, Frank Maher, says: “The continued low cost of insurance is reflected in the fact that 25% of respondents increased cover.  However we believe there is a real risk that after this year’s renewal, not only will insurance costs rise significantly but some firms may have far more difficulty obtaining the cover they want.”

Issue: 7311 / Categories: Legal News , Procedure & practice , Profession
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MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
The Court of Protection has ruled in Macpherson v Sunderland City Council that capacity must be presumed unless clearly rebutted. In this week's NLJ, Sam Karim KC and Sophie Hurst of Kings Chambers dissect the judgment and set out practical guidance for advisers faced with issues relating to retrospective capacity and/or assessments without an examination
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
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