Key Insights - Q1 2025
▼The Aon Professional Services Practice Loss Prevention team is delighted to share with you some of our insights that continue to attract readership and address issues of enduring relevance in 2025.
Our latest advisory provides valuable perspectives on important risk management questions for law firms, including:
- the adequacy of professional indemnity and cyber insurance limits
- risks associated with introducing third-party AI solutions
- considerations for risk retention
- risks associated with handling and maintaining records containing personally identifiable information (PII) and Personal Health Information (PHI).
February 2025 - PSP’s top five Insights of 2024 demonstrate the continuing relevance of insights published by PSP over the last four years. Our Archive contains over 200 Insights.
January 2025 - As the cyber threat landscape changes due the introduction of new threat surfaces from AI-driven solutions, ever-increasing sophistication of attacks, and pressure from regulatory bodies, increased collaboration is required within organizations to prioritize the most critical security initiatives.
August 2024 - U.S. law firms often ask how much Professional Indemnity (PI) insurance limit is enough? What does the firm really need to protect itself?
May 2024 - The only thing worse than being hit by a cyber-attack is finding that your cyber program limits are insufficient to pay the full amount of the loss. Cyber insurance is no longer cheap and nobody wants to pay for insurance limits that may never be used. In a dynamic threat environment where information and publicly available statistics are unreliable, how can we be confident that cyber limits are sufficient?
Key Insights - Q4 2024
▼As the Loss Prevention Team of the Professional Service Practice at Aon (PSP) looks ahead to 2025, we have been reflecting on current market and risk trends identified through Aon’s extensive data and relationships in the professional services and insurance sectors, as well as our law firm clients’ experiences over the past year. This advisory includes some of PSP’s leading resources from 2024 that identify specific risk and professional responsibility trends and provide insights to help law firms address those trends with clarity and confidence in 2025:
- a year-end report by our Professional Services Practice subject matter specialists that includes their predictions about risk and human capital in 2025;
- our report on the Aon Loss Prevention team’s industry-leading survey about law firm policies and practices and the top risks identified by large and sophisticated law firms across the United States; and
- a recap of some key takeaways from our 2024 Aon Law Firm Symposium.
December 2024 - The Professional Services Practice (PSP) at Aon is pleased to bring together subject matter specialists to review the risk and human capital environment that faced professional service firms in 2024 and make some predictions for 2025.
December 2024 - In February 2024, Professional Services Practice’s Loss Prevention team launched a survey of general counsels of large and sophisticated law firms across the United States to explore their policies and practices relating to important professional responsibility and liability issues.
Takeaways From the 2024 Aon Law Firm Symposium
November 2024 - Aon’s Professional Services Practice held its 21st annual Law Firm Symposium in Phoenix, Arizona, from October 23-25, 2024. The Symposium is the premier risk management event for large and sophisticated law firms and the insurers that serve them.
Key Insights - Q3 2024
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September 2024 - U.S. law firms often ask how much Professional Indemnity (PI) insurance limit is enough? What does the firm really need to protect itself?
September 2024 - The Professional Services Practice’s Loss Prevention team discusses important professional responsibility considerations for law firms considering sharing office space with other lawyers, including the duty of confidentiality to clients, clearly communicating the relationship between the firms, and important conflicts of interest issues.
September 2024 - Tom Ricketts, Cyber Practice Leader of the Professional Services Practice at Aon, discusses how indispensable tabletop simulations are in allowing professional service firms to better prepare and respond to cyber-attacks.
September 2024 - The Professional Services Practice at Aon’s Keith Tracey discusses the Aon 2024 Client Trends Report, its relevance to professional service firms and some possible responses.
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About Aon
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