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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

DWF—19 appointments

DWF—19 appointments

Belfast team bolstered by three senior hires and 16 further appointments

Cadwalader—Andro Atlaga

Cadwalader—Andro Atlaga

Firm strengthens leveraged finance team with London partner hire

Knights—Ella Dodgson & Rebecca Laffan

Knights—Ella Dodgson & Rebecca Laffan

Double hire marks launch of family team in Leeds

NEWS
The Supreme Court issued a landmark judgment in July that overturned the convictions of Tom Hayes and Carlo Palombo, once poster boys of the Libor and Euribor scandal. In NLJ this week, Neil Swift of Peters & Peters considers what the ruling means for financial law enforcement
Bea Rossetto of the National Pro Bono Centre makes the case for ‘General Practice Pro Bono’—using core legal skills to deliver life-changing support, without the need for niche expertise—in this week's NLJ
In this week's NLJ, Steven Ball of Red Lion Chambers unpacks how advances in forensic science finally unmasked Ryland Headley, jailed in 2025 for the 1967 rape and murder of 75-year-old Louisa Dunne. Preserved swabs and palm prints lay dormant for decades until DNA-17 profiling produced a billion-to-one match
Small law firms want to embrace technology but feel lost in a maze of jargon, costs and compliance fears, writes Aisling O’Connell of the Solicitors Regulation Authority in this week's NLJ
Charlie Mercer and Astrid Gillam of Stewarts crunch the numbers on civil fraud claims in the English courts, in this week's NLJ. New data shows civil fraud claims rising steadily since 2014, with the King’s Bench Division overtaking the Commercial Court as the forum of choice for lower-value disputes
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