PII & Risk Management Consultants
LBS Legal offers risk management support for legal practices to improve their standing with the SRA, Professional Indemnity Insurance companies, mortgage lenders, banks and investors, referrers, the LSC and large institutional and public sector clients.
A practice that can prove it takes risk management seriously will benefit from:
- Less intrusive and burdensome regulation;
- Reduced likelihood of regulatory discipline or sanction;
- Substantially reduced professional indemnity insurance premiums;
- Access to a larger pool of indemnity insurers and enhanced policy terms;
- Panel status with a greater number of mortgage lenders;
- Improved chances of success in bids, pitches and tenders for new work and clients;
- Improved access to capital from lenders, investors, private equity and more;
- Smooth and lucrative exit for business owners, whether by sale or succession;
- Increased chances of securing, retaining and increasing the value of LSC contracts.
LBS Risk Management Services
LBS Legal risk management specialists have pioneered an approach to the identification, analysis, and control of risks which has won widespread praise from all interested parties, from SRA investigators to private equity houses and institutional clients.
Intelligent risk management is:
- Enabling and empowering;
- Results in huge financial savings (which are often realised quickly);
- Gives you a solid platform from which you can confidently seize business opportunities;
- Is a fundamental building block for those seeking to grow their practices and profit margins.
We manage the entire Professional Indemnity Insurance process for in excess of one hundred legal practices and have sufficient experience, expertise, standing and credibility to make sure you get the right results.
In addition, LBS Legal can help you access a large network of high-level individuals, including underwriters, panel managers, brokers, investors and lenders, and is able to negotiate on your behalf to ensure you achieve good value for money.
Our fees for risk management are based upon hourly charge out rates, though we are often able to agree fixed fees with you at the outset. In certain circumstances we operate on a contingency basis meaning that all (or part) of our fees are charged only if we achieve agreed objectives.
More Benefits of LBS Risk Management
Many of our client practices have had substantial drops in their insurance premiums and retained lender panel status when comparable practices have not. Others have successfully divested themselves of their equity stake on extremely favourable terms, or secured lucrative instructions from clients they once considered to be out of reach.
In addition to the commercial advantages of an impressive approach to risk management, there is comfort in knowing that all of the major financial, reputational, strategic, legal, regulatory and operational risks that might threaten your business have been identified, analysed and mitigated.