Legal risk management involves processes and procedures that control, manage and mitigate a corporation or organization’s legal exposure or legal risk. The processes can be preventive in nature such as training or implementation of compliance program. LRM processes take place in stages, normally prior to litigation but also take place during the claim stage or litigation stage.
By controlling and managing legal risk, an organization is able to control its future. Without adequate LRM processes, a company is exposed to claims, lawsuits, fines, and investigations. Therefore, it is imperative that an organization and its in house legal team understand that by controlling and managing legal risk, an organization is able to control its future. Without adequate LRM processes, a company is exposed to claims, lawsuits, fines, and investigations.
We provide best-practice advice and counseling on all aspects of legal risk management including legal risk audits which encompass legal risk identification, legal risk assessments, development and implementation of legal risk management processes and procedures including loss control programs as well as compliance review. We also provide advice on managing legal risk through insurance and other risk transfer and mitigation mechanisms.
