Aim and Objectives

This is a practical session with examples, which aims to provide insights into potential risks faced by practitioners in the provision of legal services. There will be guidance on risk mitigation as well as a review of the protection offered by compulsory professional indemnity insurance that is required as a condition of the right to practice.

Understanding and managing risk is important to legal professionals and their firms. Not only are practitioners required to exercise reasonable care and skill in the provision of professional advice, they are also required to act in compliance with their regulatory and professional obligations.

The speaker has considerable experience in the field of professional negligence and risk management and will share his knowledge and expertise with delegates.

Topics include:

A practical, knowledge based interactive session that will provide:

• An overview of the regulatory basis for compulsory professional indemnity insurance for all solicitors in private practice in Northern Ireland.
• A critique of the insurance cover provided by the Law Society of Northern Ireland Master Policy.
• Claims reporting obligations. Best practice - what, when and how to craft a claim notification to include providing details of circumstances that might give rise to a claim.
• An examination of claims handling strategies that can positively influence outcomes.
• An insight into what professional indemnity insurance issues should be considered when retiring, acquiring, moving or merging firms.
• A review of recent case law to assist in identifying key elements of file and client management in the context of managing risk and claims defensibility.
• Examining the importance of regulatory compliance for Northern Ireland law firms and solicitors especially in the context of anti-money laundering where the Law Society of Northern Ireland is the appointed Professional Body Supervisor.

Speaker

Gary Thompson

Gary is the owner of GT Consulting. He is a Fellow of the Chartered Insurance Institute and provides claims and risk management advice to Northern Ireland solicitors and law firms. He also provides expert witness opinion on insurance disputes as well as undertaking technical and operational insurance claim audits.

Gary has particular expertise in managing professional liability claims against a range of professionals but in particular solicitors. From 1998 until 2016 he was responsible for managing all claims and notifications intimated by Northern Ireland solicitors pursuant to their reporting obligations under the Law Society of Northern Ireland Master Policy compulsory professional indemnity insurance arrangements. Gary also held a similar role in respect of Advocates in the Isle of Man. He has recently been awarded a Certificate in Anti-Money Laundering by the Law Society of Scotland.

Gary utilises the knowledge gained in handling professional liability claims against solicitors to regularly provide insightful and practical risk, insurance and claims management seminars. He has also produced risk management articles for the Writ and Folio magazines.

Gary has been involved in many high profile solicitors’ professional negligence actions. He remains a staunch advocate for Northern Ireland law firms as well as the Bar.

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