QUICK ANSWER
Why does the legal work mix matter?
A legal practice may handle very different types of work, clients and transaction values. The risk presentation should distinguish the areas of practice, the proportion of fee income from each, the size and complexity of matters, any handling of client money or documents, the jurisdictions involved and the supervision and file-review procedures used.
ACTIVITIES
Describe the areas of practice and responsibilities accepted
Legal work may include commercial contracts, property, conveyancing, litigation, employment, corporate transactions, private client matters, probate, family work or specialist advisory services. The relevant proposal information is the actual work mix, the values involved, the nature of clients and counterparties, and the extent to which deadlines, undertakings, funds or critical documents are managed.
PROPOSAL INFORMATION
Information that explains the professional exposure
- Areas of practice and percentage of fee income from each.
- Annual and projected fee income.
- Largest matters, transaction values or property values.
- Client types and any concentration in particular sectors.
- Jurisdictions and cross-border work.
- Use of consultants, counsel or outsourced services.
- Handling of client money, valuable documents or critical deadlines where relevant.
- Claims, complaints, notifications, circumstances or disciplinary matters that should be disclosed.
CONTROLS
Supervision, conflicts and file control are material evidence
Useful evidence can include engagement and scope controls, conflict checking, diary and deadline systems, partner or senior supervision, file audits, client-money controls, identity and fraud-prevention procedures, document retention, complaints handling and a clear process for identifying potential claims or circumstances.
RELATED GUIDANCE
Connect the legal practice to the wider proposal
Return to Business Occupations & Risk Profiles, or use the Commercial Insurance Proposal Guide for the wider preparation framework.