09-07-2007
Insurance firm welcomes new regulations
Company insurance and commercial insurance claims made up some four per cent of all notifications to Zurich Professional, the firm has stated.
However, the organisation also indicated that this is often "far outweighed" by the value of the claims that result.
The figures come following the announcement of the new Solicitors' Code of Conduct 2007, which makes a commitment to risk management for the first time.
Andrew Nickels, risk manager at Zurich Professional, said: "This is a fantastic opportunity for principals to sit down with everyone in the firm to discuss how things are currently being done and how they could be done better.
"Firms that purport to deliver high standards of client care have to be committed to risk management. The two are inextricably linked."
He added that he hoped that the new rule will ultimately lead to fewer negligence claims against solicitors.
One of the core functions of the new code of conduct was to identify and maintain essential client protections.