The RMEP is now augmented by the Risk Management Consultation Program designed to offer advice and assistance to specific firms whose claims experience demonstrate a need for more effective risk management practices. Effective risk management practices are the single most important factor in protecting yourself against a claim. While the risk management programs are a preventative measure, LawCover's claims management is continually being developed to minimise the impact of claims upon the Fund by early identification of issues and resolution of claims. The measures taken in this area include the formal ADR program, a regular program of settlement conferences, a comprehensive review of panel firms and continued enhancement of the Claims Manager database to provide statistical and financial data on claims history and high risk areas of practice. LawCover has a number of new products in the pipeline to extend the type of cover available to solicitors.
Risk is a fact of business and of life.
No-one is immune, but we can take measures to lessen the likelihood of claims and the impact if they do arise. The Law Society of New South Wales is the professional association for the solicitors branch of the legal profession in the State of New South Wales, Australia. 170 Phillip Street, Sydney NSW 2000, Australia.