Dealing with compliance fatigue

PI insurance for law firms: Dr. Joanne Cracknell, Director, PI Legal Services Risk Management — FINEX GB

Transcript for this episode

JOANNE CRACKNELL: During the past decade, the legal profession has witnessed exponential changes to the regulatory landscape in response to the threat from issues such as economic crime, the pandemic, turbulent geopolitical and economic environments, and the rise of artificial intelligence and cybercrime.

The risks facing law firms do not only stem from challenges from legislative and regulatory factors but also the day-to-day running of the business, such as managing clients' expectations, good financial hygiene, well-being, and a positive workplace culture. The Solicitors Regulation Authority will also expect these risks to be managed effectively.

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Being responsible for risk and compliance in a law firm, navigating uncertainty in a constantly evolving climate can be a tiring and lonely place. At Willis, we stand shoulder to shoulder with our clients, supporting them with navigating their way through the constantly evolving compliance landscape without experiencing compliance fatigue.

Our aim is to ensure our clients continue to maintain and foster a culture of robust risk management, compliance, and high ethical standards.