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Lawyers Professional Liability Insurance: A Glossary of Terms
Posted by Joe Barnard, CPA on Nov 15, 2018 1:03:00 PM

The process of shopping for professional liability insurance can be confusing, even for an attorney. There is a lot of information and insurance jargon to muddle through. Here’s a handy glossary to use when shopping for insurance or examining the terms of your current policy. 

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Topics: Lawyers Professional Liability

What Is a Claims-Made Policy?
Posted by Joe Barnard, CPA on Oct 30, 2018 3:01:58 PM

Professional liability insurance policies for lawyers typically are written on a claims-made basis. It’s important to understand what this means for your coverage and when to report any claims or potential claims that might arise from current or former clients.

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Topics: Attorney Professional Liability Insurance

Is Your Firm Prepared for a Third-Party Cyber Attack?
Posted by Joe Barnard, CPA on Oct 26, 2018 2:22:03 PM

Cyber risks can be lurking in the most unsuspecting places. 

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Topics: Cyber Protection

How Much Professional Liability Coverage Should I Buy?
Posted by Joe Barnard, CPA on Sep 27, 2018 1:39:00 PM

One of the more important decisions you make as an attorney pertains to your professional liability insurance. No matter how talented you are, you’re human and capable of making a mistake. When that happens, you’ll want to make sure you have adequate insurance coverage.

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Topics: Attorney Professional Liability Insurance, Lawyers Professional Liability

I’ve Never Had a Claim, So Why Would My Rates Increase?
Posted by Joe Barnard, CPA on Sep 3, 2018 1:57:00 PM

Liability insurance rates for legal professionals may be one of the more confusing aspects of practicing law. Understanding some key factors in determining rates may help ease your mind when it’s time to renew your coverage. 

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Topics: Attorney Professional Liability Insurance

Things to Know About Prior Acts Coverage and Your Retroactive Date
Posted by Joe Barnard, CPA on Aug 21, 2018 3:06:00 PM

Professional liability insurance is essential for attorneys to operate a successful law practice and adequately protect their careers. An aspect of these policies that can be confusing is the prior acts coverage and retroactive date. Understanding every component of your policy and what to look for is the best way to ensure you are adequately covered.

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Topics: Attorney Professional Liability Insurance

What If I Forgot to Disclose Something on My Legal E&O Application?
Posted by Randy Heaster on Aug 11, 2018 9:27:00 AM

Errors and omissions (E&O) insurance is a lawyer’s safety net against mistakes and malpractice claims. It is important to have sufficient coverage over the course of your career (and beyond) because everybody makes mistakes. Ensuring that you have adequate coverage begins with carefully completing the insurance application.

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How to Spot Dangerous Clients
Posted by Bob Jennings, CPA, EA on Jul 25, 2018 5:42:00 PM

Not every client who walks through your door will be one you want to represent. Just because somebody is willing to pay for your services doesn’t mean it’s in your best interest to take their case.

In fact, your decision to decline a client may save you money (and a lot of trouble) down the line. From the high maintenance client to the truly malicious one, some people are just not worth the added stress and risk of a legal malpractice claim.

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Topics: Legal Malpractice

How to Spot Conflicts of Interest Before Taking a Case
Posted by Bob Jennings, CPA, EA on Jul 12, 2018 6:34:00 PM

A conflict of interest exists for an attorney “if there is a substantial risk that the lawyer’s representation of the client would be materially and adversely affected by the lawyer’s own interests or by the lawyer’s duties to another current client, a former client, or a third person.” Understanding how to spot potential conflicts can help reduce the chance that you’ll face a professional complaint or malpractice lawsuit.

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Topics: Lawyers Professional Liability, Attorney Professional Liability Insurance

I Only Take Small Cases. Do I Really Need E&O Insurance?
Posted by Joe Barnard, CPA on Jun 25, 2018 10:16:00 AM

As a new attorney or a small practitioner, you may wonder if the protection of professional liability insurance is worth the price. Even if you’re only practicing law part time, are only taking small cases, or are working for a small startup business, your best bet is to carry E&O insurance.

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Topics: Lawyers Professional Liability

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