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Report

Legal Business’ Risk Management and Professional Indemnity Survey 2023

Marsh is delighted to have sponsored Legal Business Magazine's Risk Management and Professional Indemnity Survey 2023, specific to law firms in the UK.

Marsh is delighted to have sponsored Legal Business Magazine's Risk Management and Professional Indemnity Survey 2023, specific to law firms in the UK. 

The annual survey and report considers the risk priorities which are preoccupying law firms and explores the continuing dominance of ESG on the agenda of those responsible for risk management at law firms. 

Some of the key findings include:

  • Insurers and brokers that indemnify law firms understand the importance of ESG more than ever and want to see that their clients have placed ESG concerns at the top of their risk management priorities, to make them viable options for coverage.
  • 82% of those surveyed said that their risk and resilience strategy has been revised over the past two years, and this is influencing their interactions with brokers and insurers.
  • Some of the top issues keeping risk managers at law firms awake at night include lack of progress towards targets for diversity and inclusion, reputational damage to a firms ESG approach or connection with unsavoury clients/client activity, and re-assessing risks due to changes in the external business environment. 

To find out more about this year's results, download the report.

 

Report

Legal Business’ Risk Management and Professional Indemnity Survey 2023

Meet the authors

John Kunzler

John Kunzler

Managing Director

Victoria Prescott

Victoria Prescott

Senior Vice President