Innovation Cup offers cash for best risk management idea

A new competition is offering a cash prize to the Scottish legal community for the best new idea to improve risk management across the profession.

The Innovation Cup, a joint initiative of the Law Society of Scotland, Master Policy lead insurers RSA, and brokers Lockton, offers a £1,500 prize, proivided by RSA, for the brightest risk management idea, which will be then shared across private practices.

Entry is open to all Scottish solicitors with a practising certificate, trainees, cashroom staff working in or for private practice law firms, accredited paralegals and student associates. They can include ideas to improve systems, processes or controls within private practice firms, ranging from a simple tweak to an existing process all the way up to something completely new.

The competition reflects the risks and responsibilities shouldered by private legal practices on behalf of their clients, and aims to inspire new risk management solutions from within the profession.

David Cullen, the Law Society of Scotland’s registrar, commented: “Scottish solicitors see their private clients through some of the most important times of their lives. From buying a home, to defending a criminal accusation or dissolving a marriage, the risks, whether financial, emotional or reputational, are considerable.

“This competition is designed to inspire Scottish solicitors, trainees, cashroom staff, paralegals and students, to share innovative techniques for risk management, RSA will reward them for their efforts and the profession will benefit from improved ways of working.”

Click here for further details including the entry form. Entries should be between 500 and 2,000 words and can include graphs, pictures or slides, if appropriate. The deadline for submission is midnight on 31 May 2018.

Entries will be judged by two members of the Society's Insurance Committee, three representatives from RSA and one from Lockton. The winner will be announced by 29 June 2018.