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Preparation is key | A guide for upcoming renewals

It has been widely documented in the insurance press that the UK Professional Indemnity Insurance (PII) market is challenging. A number of participating insurers are reviewing their solicitor portfolios as a direct result of claims activity. Because of this claims activity, rates may well increase for a number of areas of law. At a time when it is as crucial as ever to stand out from the crowd, this article highlights the benefits of investing in your PII renewal process, meanwhile reducing the potential for unnecessary stress further down the line.

Extended Indemnity Period – Dispelling the Myth

To put simply, the Extended Indemnity Period (EIP) is not “extra time” to renew your Professional Indemnity Insurance. There appears to be a common misconception of what the Extended Indemnity Period (EIP) is intended for. This article aims to clarify matters whilst also addresses the potential implications and impact on a practice entering the EIP.

Emerging areas of law – An option for the future or an opportunity right now?

There will always be a demand for traditional areas of law such as conveyance, personal injury, wills, trust and probate, family, employment and commercial but with increasing competition along with continued pressure on fees it might be worth considering some of the emerging areas of law that could compliment your existing offering.

Reflection on the latest PII renewal season

Leading up to the latest renewal season there was plenty of publicity concerning the insurance market place and the possibility of rates hardening. Following the conclusion of the March and April renewal season and practices are now in receipt of their policy documentation we can reflect and report on what has occurred during this renewal period, using our portfolio of clients as the basis of our consideration.

Can Law Be Flexible?

We are frequently advised by our clients that succession planning is becoming more difficult, as fewer fee earners have the desire to become equity partners. They also comment that younger employees are likely to hop between employers as they chase rapid career progression.

Responding to Subject Access Requests (SARs) – Practical Tips

Since the introduction of the GDPR in May last year individuals have become much more aware of their rights to access their personal data. It is therefore extremely important that you have a clear action plan in place to process SARs within the short statutory timescale and to avoid fines or censure. Below we look at the SAR requirements, the practical impact of them, and some top tips for ensuring you get it right.

Passwords - what should you be doing to protect sensitive data?

There is no doubt Data Protection has always been a key part of the day to day business environment, now with the fines and penalties that could be imposed by the Information’s Commissioners Office (ICO) with the new General Data Protection Regulation (GDPR) it has focussed our minds.

Reporting Suspicious Activity to the NCA – the latest case of Lonsdale v. Nat West Bank

The case of Lonsdale v National Westminster Bank plc [2018] EWHC 1843 (QB) has been widely reported and has caused some consternation as to whether those making Suspicious Activity Reports (SARs) could potentially find themselves subject to a claim for defamation. In this blog we will look at what happened in that case and the potential implications for MLROs before giving some practical tips about what sort of information to include when making SARs.

Beware of the Cuckoo

In the legal profession, recruitment can be an exhausting and unpredictable process. At times you can spend months finding an individual only to be let down at the eleventh hour, losing out on valuable fee earning hours in the process. Whilst frustrating, it is important that this does not lead rush decisions or settling for second best. We’ve put together some points to consider to help make recruiting as productive as possible in the long run.

Compliance round up & upcoming requirements webinar

Anti Money Laundering Update 2018

Last week we hosted a webinar on Money Laundering Regulation updates. Amy Bell looked at the commonly asked questions whilst outlining what changes are on the horizon with the new 5th Money Laundering Directive.

Stay cyber safe: helpful reminders for you and your employees

Both technology and the work environment have evolved enormously over the past few years. Whilst working remotely and on multiple devices means we are more efficient and effective than ever, it brings with it certain risks that weren’t there before.

Protecting Data: It’s not just about the GDPR...

The General Data Protection Regulation (GDPR) reinforced the need for businesses to take ‘appropriate technical and organisational measures’ to keep personal data safe. Law firms have for a long time had a regulatory responsibility to keep client data safe and just as importantly, confidential. So what advice can you provide to your employees to ensure that client personal data is safeguarded?