A common theme Lockton hears from law firms is: "How does our risk and compliance compare with our peers?" and "How are other firms approaching OFR?" writes Professional Indemnity Insurance expert Steve Holland in the foreward to the latest issue of Managing Risk.
Also in Managing Risk, a Lockton survey in 2011 was the first in-depth survey and benchmarking exercise across the UK Top 100 firms looking at approaches to and resourcing of risk management and compliance. The results of this survey allowed firms to see how they compared with their peers. Some firms were well behind the curve and saw they needed to invest more in risk and compliance, while others had found that they had the right balance between risk and reward.
ABS continues to hit the headlines and in the latest issue of Managing Risk we hear what the SRA expect from applicant ABSs as well as the viewpoints of two businesses and their experience in converting to an ABS. The COLP and COFA positions are now live and we look at the protection that these individuals would be wise to take out, giving them peace of mind should they be at the wrong end of an SRA investigation.
Download this paper for in-depth insights.