Law Firm Risk Management

The principle is simple: a law firm can only be successful and profitable if it manages its risks well.

Downey Law Group seeks to help law firms and their insurers manage risk by providing an array of risk management services. Regular law firm risk management services include:

  • Audits to evaluate current practices and procedures and identify areas for correction and improvement;
  • Risk management continuing legal education (CLE) training including on issues such as client intake, social media and technology; and
  • Answering risk-management related inquiries including on matters such as terminating troublesome clients and dealing with potential lawyer malpractice.

In 2014, founding member Michael Downey was approved by the Office of Chief Disciplinary Counsel of Missouri to provide risk management services to a lawyer required to undergo diversion due to an ethics complaint. Services provided included a full audit of all law firm processes, including marketing, client intake, and file and money management, as well as periodic meetings and assessments during the period of diversion.

Checklist of Law Firm Risk Management Issues