A Glasgow trainee solicitor is the first to win the Innovation Cup for his risk management idea.
Daryl Jarvis has made history as the winner of a new competition, run jointly by Law Society of Scotland, Master Policy Insurers, RSA and brokers, Lockton, which invited legal professionals and law students to share their bright ideas for risk management processes and strategies.
His winning entry provides a means to register risks and information centrally within an organisation to inform their risk management processes. The tool is flexible enough to be adapted to individual requirements and uses existing software, which makes the risk tracker low cost and easy to implement.
Murray Etherington, convener of the Law Society of Scotland Insurance Committee, said: “Risk Management is at the very heart of maintaining a strong and robust Master Policy for the profession.
“The Insurance Committee are dedicated to a rigorous risk management programme and the Innovation Cup is our latest creation to bring risk management to the forefront of all practitioners minds, inspire new ideas and sharing of existing practices, with the ultimate goal of improving strategies across the legal profession.”
Edward Ambrose, RSA’s Scotland Regional Manager, said, “We were very impressed by Daryl’s risk tracker. It offers an affordable, adaptable and user friendly solution for organisations to log, evaluate and escalate risks. My congratulations and thanks go to Daryl for this excellent design.”
Daryl Jarvis said: “I am delighted to have been chosen as the winner of the inaugural Innovation Cup. The competition offers a valuable opportunity to raise the profile of risk management within the profession, share good practice and generate discussion about how firms manage risk.”
The risk register will be made available to use by private practices and Daryl Jarvis received a £1,500 cash prize provided by RSA at a presentation at the Law Society in Edinburgh today / on Friday 28 June 2018.
The Innovation Cup acknowledges 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.
Entries were judged by two members of the Law Society Insurance Committee, three representatives from RSA and one representative from Lockton.