Legal malpractice claims are on the rise
Recent headlines confirm what many attorneys have sensed as the economy has struggled. There are more and larger legal malpractice claims being filed.
First, The American Lawyer reported on the results of a survey of legal malpractice insurers indicating that "significantly" more legal malpractice claims are being filed against law firms in an article titled "Survey: Law Firm Malpractice Claims Are on the Rise."
Second, The Wall Street Journal posted a blog about the increasing risk for law firms of a legal malpractice claim in a post labeled "Legal Malpractice Suits May Be Coming Your Way."
Then, the Huffington Post (in an article by Dan Rather) described what could be the largest legal malpractice claim in history in an article titled "A Billion Dollar Blunder?"
These reports follow a series of articles about multimillion-dollar settlements and verdicts against attorneys for legal malpractice. Most experts agree that until the economy improves, these risks of more and larger legal malpractice claims will increase.
Based on these trends and the continuing challenges of a down economy, it has never been more important for lawyers to employ proven strategies for reducing the risk of legal malpractice, and more importantly, a legal malpractice claim. It is not enough to just be careful or do what is right. Claim prevention has become a necessary part of every law practice.Print PDF