In 2023, the Malaysian Bar established the Risk Management Initiative (“Initiative”) to promote risk management and to complement the Bar’s mandatory Professional Indemnity Insurance Scheme. Since then, the Bar has been steering this Initiative in the direction that best aligns with the interests and needs of its Members.
After a year of collecting and understanding data as well as developing a structured programme, the Malaysian Bar launched the Risk Management Campaign at the 78th Annual General Meeting of the Malaysian Bar (“AGM”) on 16 Mar 2024.
The launch took place at Menara Kembar Bank Rakyat in Kuala Lumpur and both Members of the Malaysian Bar and invited media representatives were present in the hall.
The launch began with the opening speech by the Chairperson of the Bar Council Risk Management Committee, Arthur Wang. He provided a summary of the work done by the Risk Management Committee over the past year with regard to the Initiative. These included the following:
- extensive fact-gathering, including a Survey of Law Firms;
- a review of the Malaysian Bar’s existing risk management tools, website, articles, and guidelines;
- an in-depth analysis of over 20 years of claims data; and
- risk management training sessions for Malaysian Bar officers.
He then provided a brief update on the status of the Initiative before inviting the President of the Malaysian Bar, Karen Cheah Yee Lynn, to deliver a speech and officially launch the campaign.
The President of the Malaysian Bar proceeded to address the difficulties of implementing effective risk management in law firms and the need for the Malaysian Bar to invest in risk management.
She then announced the Malaysian Bar’s new risk management programme, ELEVATE, whose mission is to inspire Members to greater heights, raise public confidence in the legal profession, and elevate the Malaysian Bar to compete in the international field. She emphasised the importance of effective communication skills and effective office management in addition to sound legal knowledge. She further spoke on how ELEVATE, by rolling out a range of controls, aims to guide and benefit Members of the Bar in this respect.
Then, with the third knock of the gavel, Karen Cheah Yee Lynn launched the Malaysian Bar Risk Management Campaign, ELEVATE. A brief video montage was played on two large LED screens in the hall that highlighted the ELEVATE logo.
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The President then unveiled a large backdrop that prominently displayed the ELEVATE logo. After which Arthur Wang presented the risk management booklets to the Office Bearers of the Malaysian Bar.
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Click here for more information on the booklet.