Wednesday, May 26, 2010

UK Risk Management and Insurance Update

Several interesting updates, resources and thinking from the UK legal landscape:
  • Legal Risk LLP published its annual UK law firm survey on professional indemnity insurance. The report breaks ours summary data regarding choice of broker, coverage levels and insurance providers.
  • Via the Orange Rag: Legal Futures just launched. This is a website designed to help reads understand the significant changes facing the UK legal market. "The site... covers issues of conduct, compliance and competence for lawyers within the wider context of the Legal Services Act and especially alternative business structures."
  • From Legal Futures, see an update about impending SRA Rule Changes as it revises its Code of Conduct. Current trends point to a regulatory framework that is more "outcomes focused," rather than one that attempts to lay out detailed rules.
  • Via the Legal Ethics Forum: "The Re-Organization and Re-Professionalization of Large Law Firms in the 21st Century," by John Flood, Professor at University of Westminster School of Law. An interesting article that explores changing law business models and organisational structures: "[if] the law firm itself is becoming more of a bureaucratic corporate entity rather than the traditional idealization of partnership...does it even make sense to talk of a 'legal profession'?"

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