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X-raying matters: How to improve matter risk management

Peter Bennett shares how he developed a matter-level risk management system which saved his firm £3m in PI premiums

1 February 2013

Key takeaway points:

  1. Focused matter-level risk management can reduce your PI premiums

  2. Identify your firm’s 20 per cent of high risk and concentrate on managing it

  3. Ensure your partners know that their highest-risk matters will be scrutinised

 

In 2006, I conceived and installed a simple, but devastatingly effective, matter-level ?risk management system which is now ?used by every fee earner at our firm, on every new matter.

It takes two to three minutes for the fee earner to use and has gained the highest level of immediate fee-earner compliance. It is now undertaken 100 per cent of the time – without grumbles from the fee earners and partners.

The impact of the system was immediate, long-la...

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