Risk Management Tips Archives - Colorado Bar

Cloud Technology, Remote Workforces and Law Firms

In the wake of the pandemic, the adoption of cloud technology and remote workforces in the legal sector accelerated. This drastic change left lawyers and law firms trying to manage new security vulnerabilities such as malware, ransomware and data breaches. Despite the risks, cloud technology offers many benefits to law firms. Luckily, there are steps [...]

By | June 16th, 2021|Insurance Tips, Risk Management Tips|0 Comments

The Risks of Pro Bono Work

Many lawyers view their pro bono work as a higher calling. Providing professional services free of charge is a way to give back to the profession and elevate the practice of law. It's also common for lawyers to view their pro bono work as an opportunity to broaden their horizons. At the same time, it's [...]

By | April 22nd, 2021|Risk Management Tips|20 Comments

Increased Ransomware Attacks Targeting Law Firms

In the past year, there has been a massive surge in ransomware attacks targeting law firms, costing law firms hundreds of millions of dollars, exposing sensitive client data and crippling their ability to operate. Many law firms continue to focus primarily on their client matters, not realizing how a ransomware attack could now devastate their own [...]

By | February 1st, 2021|Risk Management Tips|18 Comments

Engagement Letter Best Practices

With another year upon us, it's a good time to reflect on areas you can improve when it comes to your current firm practices, specifically the engagement letter best practies. As the contract between you and your client, a written engagement letter is essential. Each new client matter or representation, big or small, should begin [...]

By | December 8th, 2020|Risk Management Tips|22 Comments

Minimizing Your Data Risks with Secure Passwords

Lawyers must strike a careful balance between maintaining easy access to digital files and safeguarding the firm's confidential data. Hackers are becoming more and more sophisticated, which means it's more important than ever to use secure passwords for all your files and devices. To stay safe, your firm's password security must evolve to keep pace [...]

By | November 23rd, 2020|Risk Management Tips|19 Comments

Improving Client Screening FAQs and Tips

Improving client screening is an important aspect of maintaining an efficient and effective law practice. Engaging in a representation with the wrong client or on the wrong matter could put your career and practice at risk. Improving client screening at your firm helps reduce the risk of troubled representations and malpractice claims. It's wise to [...]

By | September 25th, 2020|Risk Management Tips|22 Comments

Managing Lawyer–Client Business Transaction Risks

When a lawyer and a client enter a business transaction beyond the typical fee-for-service, the risk of a claim rises dramatically. Price-sensitive clients may offer you business equity, investment returns or even patents to better afford your services. Some of these carefully arranged side deals may even be legal and ethical at the outset but [...]

By | August 11th, 2020|Risk Management Tips|0 Comments

Top 4 Cyber Risks Faced by Lawyers

Law firms and lawyers face risks from doing business online every day. Email communications, digital files, privileged client and business records and sensitive financial transaction information are all attractive to hackers. To stay safe online, it's important to know the risks, minimize exposure and protect against potential impacts. Here are the top 4 cyber risks [...]

By | August 11th, 2020|Risk Management Tips|0 Comments

Mitigating a Lawyer’s Risk for Defamation Claims

Outside the courtroom, a lawyer's professional activities may include types of communication that increase the risk of a defamation claim. Statements made on the courthouse steps, or in press releases, interviews and written descriptions of litigation can all pose a risk of defamation exposure. Mitigating risk for defamation claims is key to avoid a stressful, [...]

By | April 3rd, 2020|Risk Management Tips|21 Comments

Managing Risk Through Client Intake Procedures

Accepting or rejecting potential clients is a frequent occurrence for practicing attorneys. To protect yourself and your firm from high-risk or incompatible clients, you need sound client intake procedures. The right client intake procedures are a smart risk control measure that may help you avert a legal malpractice claim before it can damage your business [...]

By | February 28th, 2020|Risk Management Tips|21 Comments