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Should You Be Shopping Your Malpractice Insurance?
Posted by Randy Heaster on Oct 19, 2017 1:50:00 PM

If you have professional liability insurance for your legal practice, you’re off to a great start. But once it’s in place, should you “set it and forget it?” Or do you need to shop the coverage on every renewal?

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Topics: Lawyers Professional Liability

How to Compare Competing Malpractice Insurance Policies
Posted by Joe Barnard, CPA on Oct 6, 2017 4:35:00 PM

If you’re opening a new practice, just getting around to buying professional liability insurance, or shopping for a better policy, asking the right questions is critical to getting the best protection and value. Before you sign up, be sure to know the answers to these questions.

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Is the Cost of Legal Malpractice Insurance Worth It for a Solo Practice?
Posted by Joe Barnard, CPA on Sep 28, 2017 11:42:00 AM

When you’re starting a solo practice, it’s natural to want to keep your budget slim. While cutting costs in some areas is smart, cutting malpractice insurance out of your budget can set you up for sizable problems down the road.

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Topics: Lawyers Professional Liability

Top Five Reasons Lawyers Get Sued
Posted by Joe Barnard, CPA on Sep 18, 2017 10:03:00 AM

No matter how earnest and diligent you are in your legal practice, you’re not immune to malpractice suits. While some attorneys are sued for reasons they could have prevented with greater attention to detail or more honest dealing, plenty of lawsuits arise out of situations in which even the best attorneys can find themselves.

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Topics: Lawyers Professional Liability

A Client Threatened to Sue Me. What Should I Do?
Posted by Joe Barnard, CPA on Aug 24, 2017 9:13:00 AM

It’s perhaps easiest to start with the one thing not to do when a client threatens to sue you: ignore them. Although a threat is a long way from an actual lawsuit, taking the threat seriously will allow you to prepare for whatever may follow.

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Topics: Lawyers Professional Liability

How E&O Insurance Gives You the Freedom to Grow Your Practice
Posted by Joe Barnard, CPA on Feb 2, 2017 10:00:39 AM


For many small firms or solo practitioners, survival depends on taking a diverse array of cases rather than focusing on one narrow practice area.

Practicing a new area of law, however, not only broadens your experience but can also increase your risk.

Errors and omissions insurance (also called professional liability insurance or malpractice insurance) can help you expand into new areas of practice with confidence.

 

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Topics: Business Insurance, Lawyers Professional Liability

Professional Liability Insurance Covers More Than Lawsuits
Posted by Joe Barnard, CPA on Jan 30, 2017 10:29:00 AM

You may feel like your practice is at low risk of facing a lawsuit, so you don't need malpractice insurance. But a lawyers professional liability policy covers more than the cost of settling a lawsuit or paying a judgment—it provides you with assistance in a variety of difficult situations as well as helping you avoid malpractice claims altogether.

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Topics: Business Insurance, Lawyers Professional Liability

Why New Attorneys Shouldn’t Wait to Get E&O Insurance
Posted by Joe Barnard, CPA on Jan 27, 2017 10:24:29 AM

If you’re a young lawyer hanging out your shingle for the first time, you know that very penny counts. For that reason, you may be evaluating whether you should spend the money for professional liability insurance. New lawyers or lawyers starting a firm may think the small cases they will handle in their first few years do not justify the cost of paying for malpractice insurance (also known as “errors and omissions"  or "E&O" insurance). Or they may think that if they have very few assets (and very big debts), they won’t get sued if they don’t carry insurance.

Here’s why this philosophy is misguided—and why getting E&O insurance immediately is the best thing new attorneys can do for their practice.

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Topics: Business Insurance, Lawyers Professional Liability