10 Simple Risk Management Tips for Attorneys
By: Ashley Western, ACSR, MSM RMI
Commercial Business Development Manager
In Identifying what constitutes Risk Management for attorneys, it’s not as complicated as one might assume. Here are some simple Risk Management techniques that could be beneficial.
Use Checklists- Missed steps, lost documents, and overlooked regulations are all malpractice. The best risk management for this is to develop thorough checklists and then use them- regularly.
Be Courteous- Civility in the legal environment is a powerful risk management tool. Who better to testify that you did everything you could have for your client, than the opposing counsel? Being polite to the attorney on the other side may benefit you in a malpractice claim scenario.
Be Organized- Missed deadlines is one of the biggest professional liability claims Insurance Companies see each year. Every matter has deadlines, whether statutes, discovery, regulatory, or transactional. Every deadline presents risk. Be sure to establish a good calendaring system & use it well.
Choose Wisely- Matters you don’t have time for, AOP’s you don’t have interest in, or matters you don’t have resources to handle (in terms of staff or other resources) are all high risk ventures.
Don’t be afraid to talk about money- Have an open discussion on the case with your client, and be realistic about expectations.
Avoid conflicts of interest- Check for conflicts in every matter, every time. Be careful when asking for waivers of potential conflicts.
Follow the Rules- If you regularly review the rules & strive to work within them, you are managing your clients’ risks, as well as your own.
Communicate Regularly- Keep your clients updated on the status of their matters. The more you keep in contact with your client, the better they feel about you & the efforts you make. Also, make sure to maintain regular and open lines of communication with colleagues about all aspects of firm activity. The more you talk, the more you’ll be able to spot potential issues & the more you can help each other out of potential issues.
Exercise your Professional Judgment- Acting in the best interest of your client will decrease the risk of a lawsuit from a client significantly. It will also increase the likelihood that you’ll prevail, should you face a claim despite your best efforts.
The Risk of Professional Malpractice is unavoidable, and the recommendations set forth above are elementary concepts. However, Risk Management is more about awareness than it is about complexity. Keeping these principles in mind can really reduce your overall risk.
