At WTW, we transform tomorrows. The pace of change for law firms continues to accelerate and navigating those challenges isn’t easy. With our deep understanding of the challenges you face, we marry innovative solutions, data and analytics, and an obsession with customer service to help protect your firm and allow you to do what you do best – take care of your clients.
Key risks law firms face today and tomorrow
Law firms face a complex landscape of risks that can significantly impact their operations and client relationships.
Mirroring trends in other industries, the increasing influence of artificial intelligence (AI) and persistent cybersecurity threats will remain top risks for the foreseeable future. Compounded by increasing reputational vulnerabilities, evolving regulations, such as non-lawyer ownership, and pressing talent and wellbeing concerns, it’s time for law firms to take a new approach to understanding and transferring risk.
WTW’s specialized solutions for law firms provide protection against these complex risks, ensuring your firm remains resilient and trustworthy in the eyes of clients. Balancing innovation with security is crucial.
Our solutions for law firms
WTW provides a full suite of risk management and human capital services and solutions to support your firm.
Risk Management
Our risk management services include:
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01
Risk quantification
WTW provides robust benchmarking and advanced analytics to understand the risks facing your firm, quantify the risk, and provide alternatives for managing the risk (including alternative risk transfer).
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02
Risk transfer
Our risk transfer solutions cover all lines of insurance, including Lawyers Professional Liability (LPL), Cyber Directors and Officers (D&O), Employment Practices Liability, Property, Casualty and more.
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03
Risk Control
With a deep understanding of your risk, we provide education opportunities to help you manage risk on the front end, making it less likely that you will receive claims on the back end.
We offer a comprehensive set of offerings that may secure and strengthen your organization:
- Financial, executive and professional risks (FINEX)
- Professional indemnity
- Cyber insurance
- Directors’ & officers’ liability
- Employment practices liability
- Network privacy/cyber risk liability
- Property and casualty insurance
- Captives
- General insurance program reviews
- Reputational risk
Human Capital
In the legal profession, your greatest asset is your talent. At WTW, we understand the unique human capital needs of law firms and can help you develop HR programs to attract and retain the critical talent you need to succeed. From comprehensive recruitment strategies to robust retention programs, we provide the tools and expertise to ensure your law firm thrives in a competitive landscape.
We offer a variety of solutions and services that may assist you with managing your organization’s needs:
- Benefits administration and outsourcing
- Change management
- Compensation strategy and design
- Contingent workforce management
- Executive compensation
- Work transformation
- Health and benefits
- Diversity, equity and inclusion
- Mergers and acquisitions
- Retirement
- Employee experience
- Total rewards
- Employee wellbeing
Our knowledge and years of experience ensure that you receive the best risk management and human capital strategy for success, allowing you to concentrate on your clients.
Why choose WTW for your law firm’s needs?
When it comes to supporting law firms, our expertise in the legal industry sets us apart. We understand the unique risks and requirements that law firms face. Our experienced professionals have extensive knowledge, tailoring solutions for lawyers and their practices, ensuring that your firm is adequately protected and ready for long-term success.
Using our proprietary platforms and data analytics services, we develop custom solutions that meet the different needs of various law firms. Whether you’re a small legal practice or a large firm, our approach is consultative, allowing us to assess your specific needs to create comprehensive solutions that match your operational goals. This customized experience helps you focus on your clients while we take care of your insurance and other operational needs.
Disclaimer
WTW hopes you found the general information provided in this publication informative and helpful. The information contained herein is not intended to constitute legal or other professional advice and should not be relied upon in lieu of consultation with your own legal advisors. In the event you would like more information regarding your insurance coverage, please do not hesitate to reach out to us. In North America, WTW offers insurance products through licensed entities, including Willis Towers Watson Northeast, Inc. (in the United States) and Willis Canada Inc. (in Canada).
