Thursday, July 16, 2015
As law firms constantly try to stay ahead of the changing legal market they can often fall victim to malpractice claims. The frequency of claims being brought against law firms remain above pre-recession levels. The highest numbers of claims are in the area of law dealing with trusts and estates practice. Conflicts of interest are a leading cause of claims; as firms grow and expand and then take on lateral hires potential conflicts can arise. Law firms should be proactive and try not to ignore or overlook these issues.
See Ames & Gough, Law Firms Face Large Malpractice Claims as Risks Grow: Study, Insurance Journal, July 10, 2015.