Guidance note: acting on matters that exceed the law firm’s professional indemnity limit
One of the most common questions we receive is whether a firm can increase its PI limit to undertake a larger transaction. This note helps firms assess whether it is appropriate to accept or continue acting on a matter where the transaction, claim or asset value exceeds their current professional indemnity (PI) limit. The value […]
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LPM INSIGHTS ROLL
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 […]
Understanding the distinct growth challenges of complex law firms
When we talk about growth in the legal sector, we tend to reach for a single word to describe very different journeys. A three-partner practice adding its fourth lawyer and a fifty-partner law firm opening a new office are both ‘growing’ — but almost nothing about what that growth demands of them is the same. […]
How to respond to a professional negligence claim against your firm
If your client threatens to make a professional negligence claim, or does make a claim against you or your firm, it can be easy to panic. You will naturally be concerned, but you might not understand how best to defend your position. Below, we have set out some top tips to help take the stress […]