The priority becomes just getting the insurance regardless of cost. A s a result of just these factors alone, there is a new awareness of the significance of risk management. Avoiding claims and not expending deductibles which have risen astronomically, are ends in and of themselves. It has become an economic issue and in some cases a matter of survival. It should be a matter of practice management.
Most law firms pay little or no attention to specific issues related to risk avoidance.
The ones that do, however, and do it successfully, are those that see risk management as a natural part of their practice generally. W hen considering the question at all, most attorneys think solely of the mechanical aspects of the process of risk avoidance in their firms. This consideration generally boils down to docketing and calendaring. The truth lies, however, in the opposite direction. That in turn affects the dynamics of the partnership and everything else that happens in the firm flows from this beginning.