Welcome to our 2018 Lawyers Risk and Regulatory Briefing, in
which we consider emerging trends in the areas of claims,
regulation and risk for lawyers. Looking ahead, there are some
potential bumps in the road, both profession specific in terms of
changes to the Handbook and to professional indemnity insurance,
and more generally in relation to the economic uncertainty and
technology risks.
Claims
In our experience, the incidence of professional negligence
claims against law firms remains fairly low, which is likely in
part to reflect the reasonably benign current economic conditions,
now that the financial crisis is well behind us. However, looking
forward, predicting what the future economic and regulatory
landscape will look like is difficult, in light of Brexit and other
global instabilities. How matters play out politically and
economically will have some impact on claims experience for law
firms and other professionals, whether for better or worse.
