Market monitor
Conveyancers calls on government to extend furlough scheme
The furlough scheme should be extended for property businesses, like conveyancers, where income required to pay staff will not be available for months after work is undertaken once lockdown is lifted.
IP specialist waited two years to switch to unregulated firm
A solicitor specialising in intellectual property has described “waiting in the wings” for two years to close down her regulated law firm and reopen as an unregulated business.
Whiplash reforms delayed until April 2021
The whiplash reforms have been delayed until April 2021 due to the coronavirus crisis, the Lord Chancellor announced today. This is the third time implementation has been postponed.
Listed legal business eyes revenue diversification
RBG Holdings plc is aiming to broaden its non-legal offering and reduce its reliance on the revenues of City law firm Rosenblatt, it said today as it announced strong results for the 2019 financial year.
National Accident Helpline furloughs staff as enquiries fall
NAHL – the listed company that owns National Accident Helpline – announced yesterday that it has furloughed a third of its staff amid a fall in personal injury enquiries.
Coronavirus update: AML warning, property help, and more
Criminals are exploiting the coronavirus crisis and law firms may be more susceptible because of the financial pressures they are under, regulators have warned as we round up other key developments.
Majority of firms have furloughed staff, survey finds
Most law firms have implemented a furloughing strategy, looking at reductions of up to 40% in headcount to survive the coronavirus crisis, while partners are reducing drawings too, according to a survey.
Week 3 of lockdown: Dark clouds of cash flow gather
Week three of lockdown saw the start of a cash squeeze on law firms, with no money yet from the government, and predictions of a grim summer, according to research.
Susskind: No return to old ways after Covid-19 crisis
Many of the technologies and techniques that have been “forged in the heat” of the coronavirus crisis will usurp old ways of practising when life returns to normal, Professor Richard Susskind has predicted.
Firm that was ‘future of criminal practice’ is wound up
A North-East law firm that pitched itself as the future of criminal legal aid practice a decade ago by combining barristers and solicitors was formally wound up last month.
Blog
Beyond the PII premium – rethinking risk
Professional indemnity insurance renewal is often treated as an annual pricing exercise. But it is also a chance to show how effectively you identify, manage and mitigate risk.
The AI governance gap in law firms and why it matters now
A third of law firms are already using AI tools with no formal policy in place to govern how AI gets used, what data goes into it, or who’s accountable when something goes wrong.
Information isn’t oversight – lessons from the PM Law review
The PM Law review’s real findings perhaps point to a failure mode applying to any organisation sitting on scattered risk information.
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