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Each beautiful plaque displays either a ranked lawyer’s name or firm name, alongside the Chambers ranking badge and the practice area they’re ranked in.
Law firms and individual lawyers are ranked in bands from 1 (highest) to 6 (lowest). Being ranked in any band is a significant achievement. The qualities on which rankings are assessed include: Technical legal ability. Professional conduct. Client service. Commercial astuteness. Diligence.
24 Οκτ 2024 · The cost of solicitors' professional indemnity insurance. Rates for this insurance typically range between 1.5% and 5% of fee income depending on the usual risk factors and market competition.
What is an appropriate level of coverage? PI insurance works on a claims made basis. How does this affect me? What is the ‘Armageddon scenario’ of aggregated insurance claims? In light of the cost, should I consider lowering my limit of indemnity? How do I show insurers that my law firm is good at managing risk?
Your professional indemnity insurance (PII) covers civil liability for claims arising out of private legal practice, but with so much of your business transacted electronically, the potential for cyber threats is ever-expanding.
Institute typically tracks rates at four different stages: standard rates, worked rates, billed rates, and collected rates. The latter two are particularly important to the broader revenue picture.
Professional liability insurance can pay for the cost to defend lawsuits against you or your firm, as well as any settlements or judgments that arise out of your firm’s mistakes.
