Edging out risk
Solicitors and their brokers can be stumped when it comes to finding an insurer for professional indemnity. Mark Carver reports on the questions they should be asking to ensure they do not hit a sticky wicket
What approach should solicitors and their brokers be taking in the current market? Risk management, risk transfer, understanding the market and approaching it in the right way will all help.
Good risk management dictates that brokers and their clients should identify the risks within their business and then analyse any possible financial effects these risks could have. Areas such as negligence, business risk and dishonesty pose particular threats when focusing on professional indemnity. However
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