Posted by Elaine Pasini, head of communications at the Legal Futures Associate, the Institute of Legal Finance & Management
Pasini: Risk of insurance claims stemming from staff stress is high.
Drop a frog into a pot of boiling water and it will jump out. Drop a frog in warm water and slowly bring it to a boil, the frog will not sense the danger until it is too late. It will boil alive.
The point of this blog? Don’t let your law firm be that boiling frog and get hit by the Solicitors Regulation Authority (SRA) or a massive increase in your professional indemnity insurance (PII) premium at renewal time.
Saving the frog
The Institute of Legal Finance and Management (ILFM) is passionate about mitigating risk when it comes to client money, whether that’s helping with SRA accounts rules training or advising on wellness strategies to complement a law firm’s existing culture to look after their staff.
Technical legal accounting qualifications along with continued training and development is our backbone, yet there is so much more we can all be doing to protect ourselves and our colleagues to ultimately protect our client’s money.
Time and time again, we read the latest story in…
