How to combat the rising cost of Professional Indemnity Insurance (PII)?
One of the biggest costs for legal firms continues to be Professional Indemnity Insurance and it’s one which many are seeing rise, year-after-year. The situation isn’t new but it has now been confirmed as the hardest market for indemnity cover since demutualisation over 20 years ago* and it’s certainly taking its toll. With premium increases of between 5% and 50% being regarded as ‘typical’, how can firms manage this situation? To make matters even more challenging, some insurance companies are now seeking personal guarantees and demanding that policy excesses be paid into escrow.
Podcast discusses the rise in inheritance disputes
In the latest Topical Talks with Title Research podcast, Dicky Davies, Business Development Director at Tower Street Finance, joins Anthony Allsopp, Head of Business at Title Research, to discuss how blended families, co-habiting couples and DIY Wills could all be contributing to the rise in inheritance disputes. More specifically, the podcast explores:
Unit Chambers have extended their partnership with Advanced MLC for a further 3 years
Family law specialists, Unit Chambers and Advanced, the UK’s leading Chambers Management Software provider, together announce the extension of their technology partnership for a further 3 years.
Why law firms should embrace hybrid working
The legal sector has been slowly edging towards digitisation for decades – but the global pandemic and several national lockdowns have resulted in many firms accelerating their plans to accommodate a blend of home and office working: the hybrid-working model.
iManage achieves Level 2 Security Trust Assurance and Risk Certification from Cloud Security Alliance
Leading provider of knowledge platform excels in rigorous evaluation to attain recognition from the tech industry’s most powerful program for cloud security assurance. iManage, the company dedicated to Making Knowledge WorkTM, today announced it has achieved Cloud Security Alliance (CSA) Security Trust Assurance and Risk (STAR) Level 2 certification, a rigorous third-party independent assessment of the security of a cloud service provider (CSP).
Search Acumen launches interactive data tool to provide early warning of property transaction risks
Search Acumen, the property data insight and technology provider, has launched a new tool that provides real-time property data to lawyers via interactive reports, empowering them to advise clients earlier and progress transactions more efficiently than ever before.
Solicitors’ PII proposal form submission – Miller’s top tips
Insurers use your proposal form submission to determine if your law firm is a good risk. In the current hard market where capacity is reduced, it’s more important than ever to present your firm in the best possible light. As well as demonstrating that you’re a risk worth taking, a complete and well-presented submission helps the renewal process run smoothly and could even save on your premium.
Property completions up 85% in June 2021 versus 2019
Data from the latest edition of Landmark Information Group’s quarterly Property Trends Report has shown that residential property completions in June were 85% higher compared to the same month in 2019, spurred on by the 30th June Stamp Duty Land Tax holiday deadline.
