legal services practice group
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PROFESSIONAL INDEMNITY INSURANCE
LEGAL SERVICES PRACTICE GROUP
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The Willis Legal Services Practice Group is one of the largest, most experienced and influential teams in the Professional Indemnity Insurance (PII) market. Our team manages the PII and risk management requirements for a wide cross section of legal service providers and has one of the largest portfolios of law firms in the UK.
In addition, we manage the PII Master Policy for the Council for Licensed Conveyancers and are regularly asked to attend and speak at industry forums such as the International Institute of Law Association Chief Executives (IILACE), The Council of Bars and Law Societies of Europe (CCBE). As such, we understand the changes in the legal sector which enables us to provide practical and professional advice and assistance to our clients.
Everything we do, from designing the most effective insurance programme, managing claims effectively and supporting you in the management of risk is all about minimising your total cost of risk.
Unlike many brokers, we continue to invest in our claims advocacy service to ensure we offer our clients first class support. The claims team at Willis has successfully managed some of the largest, most complex and commercially sensitive claims involving law firms in the London insurance market. We also provide risk management help and assistance; our training seminars have been nominated for a number of industry awards.
Whether you are one of the largest International law firms in the world, a smaller high street practice or a Sole Practitioner we can provide services from which you will gain significant advantage.
Our goal is simple: we aim to be regarded as a trusted adviser, a role that is conducted with passion, energy and professionalism. Our commitment to our clients is to provide a service that is beyond expectations; one that fully supports and protects your business aims and objectives and helping you to grow from strength to strength.
GROWING FROM STRENGTH TO STRENGTH…
“ WE HAVE NOW WORKED SUCCESSFULLY AND HAPPILY WITH THE TEAM AT WILLIS FOR SEVERAL YEARS. THE TEAM IS EXCELLENT AND WE APPRECIATE AND VALUE THE TIME TAKEN TO UNDERSTAND US AND PRESENT OUR RISK TO INSURERS WHICH HAS PRODUCED SOME EXCELLENT RESULTS FOR US.” A TOP 20 LAW FIRM
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The risks faced by the legal services sector are varied and in many cases increasing. Our Legal Services Practice group specialise in the negotiation and placement of insurance solutions to protect you from these risks including:
� Professional Indemnity Insurance (PII)
� Management Liability Insurance, including:
— Directors and Officers
— COLPs and COFAs
— HOLPs and HOFAs
— Employment Practices
� After the Event Legal Expenses
� Deductible In-Fill Insurance
� Captive Management
� Pension Trustees Insurance
� General Liability and Property Insurance
� Cyber Liability
We provide a combination of sector expertise, technical expertise, professionally qualified associates and a personal, proactive service to meet our client’s insurance requirements.
OUR SERVICE
Our Risk & Analytics team have gained knowledge from millions of data points, enabling us to create a sophisticated strategy to develop individual client solutions using an analytical approach. We call this Intelligence Risk InSight (IRIS).
Using data gathered since 2005, IRIS offers advanced and innovative analytics tailored to your peer group, providing you with unparalleled market insight, knowledge and analysis. IRIS covers four key areas:
� Peer Benchmarking
� Market Intelligence
� Claims Analysis
� Service Performance
Each with insight organised by industry, size of business and geographic location.
RISK & ANALYTICS
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RISK MANAGEMENT CONSULTANCYOur clients receive a boutique broker service whilst still receiving all the benefits that a global broker provides – ensuring consistently competitive priced insurance solutions.
In many ways we consider the placing of a PII policy to be the last piece of the protection jigsaw. We understand the legal and regulatory landscape you work in and the risks faced. As such, we are able to provide help and assistance to prevent issues that would interest your regulator and reduce the incidence of claims and complaints through the provision of training and awareness. In conjunction with our award winning Compliance, Risk and Regulatory consultancy, CORRE, we are able to provide our clients:
� SRA CPD accredited Risk Management Training for Principles, Fee Earners and Support Staff
� Risk and File Audits
� Merger and Acquisition Due Diligence
� Compliance, Risk and Regulatory Health check
� Risk Register Implementation and Reviews“ THE SESSIONS WENT DOWN EXTREMELY WELL. A LARGE
NUMBER OF PARTNERS AND ASSISTANTS SAID THAT IT WAS THE BEST SUCH SESSION THEY HAVE BEEN TO BECAUSE IT WAS GIVEN BY SOMEBODY WHO HAD ACTUAL PRACTICAL KNOWLEDGE OF WHAT CAN GO WRONG AND WHILST IT IS A VERY DEPRESSING SUBJECT YOU INTERSPERSED IT WITH HUMOUR WHICH WAS EXCELLENT.” A TOP 20 LAW FIRM
Regulation and Compliance have become an increasing concern for firms in recent years; with many finding it a burden they could well do without. As a result, and to assist the many firms we represent, in partnership with CORRE we have developed the CORRE COMPLIANCE SUITE. This is a series of affordable support tools to make the process of Compliance and Regulation far less of a burden than it often is.
Paid for monthly, the suite includes:
� Office Procedures Manual
� Draft client care letters
� COLP/COFA Helpline
� Dedicated website to provide continued support and reference points
� Gap Analysis and Consultancy visits from qualified solicitors
� On line training modules covering six key areas of compliance which are CPD qualified
THE CORRE COMPLIANCE SUITE
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MERGERS & ACQUISITIONA SERVICE FOR YOU AND YOUR CLIENTSThe Legal Service sector has seen a great deal of consolidation in recent years and whilst many of these mergers are for sound reasons they are not without an element of risk.
Our Mergers & Acquisitions Practice is an experienced, dedicated team concentrating on assessing and insuring the risks and exposures arising from mergers, acquisitions and other corporate transactions. Combining the due diligence, transaction solutions and environmental functions within one practice increases efficiency and communication during a transaction. We are also there for your clients and can provide considerable help and assistance through the many issues faced.
EXPERT CLAIMS TEAMHaving a large PII claim brought against a firm can have wide-ranging effects. The exposure of your excess, potentially damaging reputational issues and the effect on future PII premiums are all important considerations. Effective claims handling comes down to preparation and communication. Unlike some major global brokers, Willis does not outsource any part of the claims service to a third party. Our in-depth knowledge of the claims process combined with close relationships with insurers’ claims teams, adjusters, solicitors and other experts ensures we maintain control over a claim right from the start and provides our clients with a more responsive service. As a result we often make a real difference to the outcome of our clients’ claims.
“ FINEX GLOBAL CONTINUES TO LEAD THE WAY IN GETTING CLAIMS PAID QUICKLY AND EFFICIENTLY. THEIR CLIENT-CENTRED APPROACH ENSURES THAT THEY HAVE A GOOD UNDERSTANDING OF THEIR CLIENTS AND THEIR BUSINESS. USING THEIR OWN INSIGHT AND UNDERSTANDING OF THEIR CLIENTS’ BUSINESS, THEY ENSURE POTENTIAL ISSUES ARE DEALT WITH PROACTIVELY. WILLIS DO NOT ABANDON THEIR CLIENTS TO A CLAIMS TEAM WHICH DOES NOT HAVE THE SAME UNDERSTANDING AND RELATIONSHIP. THIS APPROACH MAXIMISES THE CHANCE OF CLAIMS BEING PAID PROMPTLY.” A MAGIC CIRCLE LAW FIRM
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SOLE PRACTITIONERS
“ IN A DIFFICULT MARKET FOR SMALLER PRACTICES YOU RESISTED THE NATURAL TEMPTATION TO FOCUS EXCLUSIVELY ON LARGER FIRMS. I WOULD BE HAPPY TO RECOMMEND YOU TO OTHER FIRMS.” SOLE PRACTITIONER, LONDON
Willis has a dedicated team committed to Sole Practitioners for whom the team have acted from the very commencement of the ‘Open market’ in 2000. In our role we seek to bring choice, provide clear advice and support. We are also able to use the clout that being part of a leading global broker brings to develop more options for Sole Practitioners.
Sole Practitioners continually face challenges and this renewal promises to be one of the most challenging and fluid renewal processes in recent years. Having the Willis’ PII team working with you provides access to exclusive insurers and the experience gained from many years of assisting Sole Practitioners. We understand the issues you face and recommend that Willis are at the top of your list when considering the choice of PII broker.
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CYBER ATLAS - THE FIRST COMPREHENSIVE CYBER SECURITY TOOLKIT FOR U.K. LAW FIRMS OF ALL SIZESSince the introduction of the internet, email and e-trading, every business now faces an increasing threat of cyber-crime. It is estimated that cyber-crime now generates more revenue for criminals than the international drugs trade. It has been commented by a number of industry experts that Law firms, in particular, are a target as criminal gangs seek to gain access to highly confidential data and client accounts.
In response to these increasing threats Willis have developed ‘Cyber-ATLAS’.
Cyber–ATLAS is the first comprehensive cyber-security solution for U.K. lawyers designed to address cyber security across an entire firm, from the receptionist to the partners.
ACCREDITATIONReceive an Accreditation to demonstrate your business has a recognised standard of cyber-security and reduce the cost of insurance
A T L A SASSESSMENTDiscover your cyber-vulnerabilities with an easy to complete online assessment
SERVICESAccess a full range of additional services to help you avoid cyber-security issues and deal with cyber-incidents quickly and effectively
TOOLKITAccess valuable tools and advice to help you avoid and respond effectively to a cyber-attack
LEARNINGEducate your staff on how to identify manage and address the cyber-risk profile within your organisation
RESILIENCE RESPONSE
Most cyber-security standards and educational materials use technical language which lawyers, managers and staff in firms of all sizes find difficult to understand and interpret. The vast majority of marketing materials, legal and technical advice, and ‘academic’ work have been designed for I.T. staff and professional risk managers in very large organisations because these were, until relatively recently, perceived to be the key victims of cyber-risk. VISIT WWW.CYBER-ATLAS.COM
For more information please contact a member of our team.
KEY CONTACTS
Robin Bayly T: 020 3193 9415
Colin Taylor T: 020 3193 9418
Michael Eardley T: 0113 283 2972
Jonathan Simon T: 020 3193 9468
Martin Ellis T: 020 3193 9403
Richard Brown T: 020 3193 9442
Dale Williams T: 0117 976 9304
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“ AS ONE OF THE LARGEST LEGAL SERVICES TEAMS IN THE UK, THE LEGAL SERVICES PRACTICE GROUP AT WILLIS HAS BEEN DEDICATED TO THE INSURANCE AND RISK MANAGEMENT NEEDS OF THE LEGAL SERVICES SECTOR FOR OVER 25 YEARS.” MARTIN ELLIS, LEGAL SERVICES PRACTICE LEADER
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ABOUT WILLISWillis Limited is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities, institutions and firms around the world. Willis has more than 400 offices in nearly 130 countries, with a global team of approximately 18,000 Associates serving clients in virtually every part of the world.
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Willis Limited
The Willis Building51 Lime StreetLondon, EC3M 7DQUnited KingdomTel: +44 (0)20 3124 6000
www.willisfinexglobal.com
Willis Limited, Registered number: 181116 England and Wales.Registered address: 51 Lime Street, London EC3M 7DQ.A Lloyd’s Broker. Authorised and regulated by the Financial Conduct Authority.
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