For the last few years, law firms have enjoyed the perks of a relatively soft professional indemnity insurance (PII) market, and according to Piers Winton, executive director at Gallagher, the good times are likely here to stay for the rest of the year. “The insurance landscape in general is still looking very positive. There’s an […]
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The claims trends in solicitors’ PII every law firm should be aware of
The UK solicitors’ professional indemnity insurance (PII) market has faced multiple headwinds in recent years, reflecting challenging economic conditions, technological disruption and shifting legal risks. While the pricing environment has softened due to increased insurer capacity and competition, the underlying claims landscape has become more complex, driven by consistent long-standing claims causes and emerging risk […]
When workplace culture becomes a claim: sexual misconduct risk in law firms
Sexual misconduct is not only a people issue for law firms. It is also a governance, regulatory and insurance issue. The Solicitors Regulation Authority (SRA) describes sexual misconduct involving solicitors as among the most serious matters it deals with, and in 2022/23 it referred 11 such cases to the Solicitors Disciplinary Tribunal (SDT). In the […]
Why process discipline is worth its weight in gold
Recent headlines from Westminster offer a familiar lesson in organisational risk: when the outcome is decided first, process becomes a formality. Vetting is completed after the event, with the outcome already reached. Governance and compliance become performative rather than protective. For law firms, this could sound uncomfortably familiar. In professional service firms (PSFs), process is […]
Navigating the storm: Gallagher’s real-life cyber incident workshop for law firms
In today’s digital age, the threat of cyber attacks looms large over every industry, and law firms are no exception. With sensitive client data, confidential case files and reputational integrity at stake, the legal sector is a prime target for cybercriminals. To help firms better understand and prepare for the complexities of a cyber incident, Gallagher recently hosted an […]
What emerging challenges are surfacing within the legal sector?
The current softening within the professional indemnity (PI) market continues at quite a pace. Such rate decreases mean we are rapidly approaching the rating adequacy levels of 2017 when PI was very much under the spotlight for its poor performance — a time when we experienced a significant but short-lived hardening of the market. However, […]