Lawyers today face steep competition, increased regulation and an ever-changing technological landscape. The smartest firms understand the need to evolve to remain profitable. As a result, a growing number of lawyers are exploring the opportunity of Private Insurance.
Enterprise Risk Management
What would you do if you suddenly lost a key client or top associate? If a data breach exposed protected client information? Or if your firm’s hard-earned reputation was damaged by social media posts from a disgruntled employee or client?
The goal of Enterprise Risk Management is the reduction of uncertainty. Thus, ERM is responsible for the long-term sustainability of the firm, protecting a carefully developed brand and reputation from a variety of threats.
Making sure your operational risks are adequately identified and contained is critical. A Private Insurance Strategy provides a logical solution to jump-start the ERM process, and gain flexibility and control the cost of insurance. A properly structured Private Insurance Strategy allows access to customized coverages that enable you to reinsure risks at costs that are often lower than with retail insurers, ensuring your business is fully and affordably covered and filling the gaps left by most commercial insurance policies.