A little forward planning
The global crisis in the insurance industry and increased scrutiny of professional service providers have pushed professional indemnity rates ever higher. If law firms want to keep their rates as low as possible, they are going to have to be proactive in reducing their risk
After the cost of staff and premises, professional indemnity insurance is often the third most expensive outgoing that a law firm has to pay. This, compounded by the fact that professional indemnity premiums are continuing to rise, means that practices are having to find ways to ensure they get the best rate possible.
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