An American Bar Assn. study of legal malpractice found that claims against lawyers surged 36 percent between 2004 and 2007 when compared with the prior 3-year period. Many experts believe that the state of the economy during the past couple of years has only made the situation worse.
But what does this increase in attorney malpractice claims have to do with agents and brokers?
Understanding liability is a basic legal skill, and lawyers have significant expertise in analyzing liability exposures and understanding legal trends. However, when it comes to their own professions, lawyers may not always be as well versed in the developing professional liability exposures they may be facing while practicing law. This is where the agent or broker can step in. By helping lawyers better understand these emerging issues and how to best protect themselves, an agent can guide lawyers toward better insurance choices and thereby become a valued partner for legal professionals.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
