Ways to avoid the worst-case scenario
Series: Estates Gazette ; (0247) 23 November 2002, 142-143(2)Publication details: 2002Subject(s): Summary: Explains why firms should consider introducing risk-management practices to minimise costs of insurance premiums. Concludes that reasons behind the high-risk status of conveyancing are economic. Firstly, says enquiries must be followed to a conclusion, even if they seem unimportant, as failure to explore loose ends can lead to claims. Secondly, points out that most claims against solicitors result from basic administrative weaknesses, such as missed time limits, poor drafting, failure to read documents properly or omitting to obtain clear instructions. Recommends use of a diary, checklists, monitoring of fee-earners workloads, and use of an open culture of reporting for staff.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | ABS66219 (Browse shelf(Opens below)) | 1 | Available | 120831-1001 |
Explains why firms should consider introducing risk-management practices to minimise costs of insurance premiums. Concludes that reasons behind the high-risk status of conveyancing are economic. Firstly, says enquiries must be followed to a conclusion, even if they seem unimportant, as failure to explore loose ends can lead to claims. Secondly, points out that most claims against solicitors result from basic administrative weaknesses, such as missed time limits, poor drafting, failure to read documents properly or omitting to obtain clear instructions. Recommends use of a diary, checklists, monitoring of fee-earners workloads, and use of an open culture of reporting for staff.