Introducing the Risk Review Programme
Supporting Law Firms to Reduce Risk
We are delighted to announce the launch of the Risk Review programme, a new initiative designed to help law firms and solicitors proactively reduce the likelihood of complaints and claims. All firms covered under the Master Policy are invited to participate.
The programme will involve a Risk Review Visit to each participating firm by a reporter appointed by Lockton (who will be an experienced solicitor) to review risk management controls. Each firm will also receive a written report providing recommendations for continued development of their risk management procedures.
Programme Aim
The Risk Review Programme has been developed to support firms in identifying and addressing areas of risk within their practice, to minimise the potential for client complaints and professional indemnity claims. Our goal is to foster a culture of continuous improvement and robust risk management across the legal sector.
Eligibility and Availability
Participation in the Risk Review Programme is offered free of charge as a benefit of your firm’s Master Policy cover. The programme is managed by Lockton and sponsored by the lead Master Policy insurers, Intact Insurance.
All Scottish legal practices are eligible to apply, regardless of size or specialism. Initially, we have capacity for ten visits per year, with the potential for expansion. We encourage interested firms to register early to secure a place.
How to Volunteer
If you would like to participate, please express your interest via the contact details provided below. We will then assign a reporter to you and send you further information outlining the key risk areas that will be reviewed.
What to Expect:
Your reporter will meet with you on a pre-arranged date to conduct the Risk Review Visit. They will look at your key risk processes through the life of a transaction and speak with you to understand the challenges and risks most relevant to your firm.
You will then receive a report which will include recommendations to help you with risk mitigation strategies. The recommendations can be used by you when making decisions as regards your risk controls, policies and procedures.
Lockton will contact you six weeks after the report has been issued to invite your feedback on the programme and to discuss any further support that we can provide, for example a follow-up visit or training from our risk management associates.
The reporter’s recommendations will be advisory only and there is no requirement to take action after receipt of a report. However, the advice provided will be of practical use when examining your risk management policies and procedures.
Next Steps and Contact
If your firm is interested in taking part in the Risk Review Programme, please contact us using the details below. Spaces are limited, and early registration is recommended.
We look forward to partnering with you to promote stronger risk management and ensure your firm benefits from this valuable support.
Matthew Thomson: matthew.thomson@lockton.com (opens a new window); 0131 345 5573.
Anna Forsyth: anna.forsyth@lockton.com (opens a new window); 0131 345 5575.
Further information
For more information on the Master Policy and our comprehensive Resource Centre housing all our risk management articles, guidance notes and CPD modules, visit our website (opens a new window).