Legal Malpractice Insurance: Surviving the Perfect Storm

Journal of the Legal Profession, Vol. 28, p. 41, 2004

24 Pages Posted: 14 Aug 2009 Last revised: 12 Nov 2009

Susan Saab Fortney

Texas A&M University School of Law

Date Written: June 11, 2004

Abstract

This article serves as a practical guide to legal malpractice insurance. Part I introduces the topic of legal malpractice insurance with a brief overview of the changes that occurred in market conditions in 2000 and the subsequent effect on insurance premiums and coverage. Part II outlines the different types of insurance coverage that are available to legal professionals by describing common policy terms, exclusions, and conditions that affect coverage. Part III describes changes in law firms that may affect coverage. Part IV provides legal professionals with useful advice to consider when choosing an insurance policy. Part V reveals important factors to address and preparatory steps to take when applying for insurance. Part VI details the various actions an insured should take in the event of a claim. The article concludes by briefly reiterating the importance of making an informed decision when purchasing legal malpractice insurance.

Keywords: legal malpractice insurance

JEL Classification: K19

Suggested Citation

Fortney, Susan Saab, Legal Malpractice Insurance: Surviving the Perfect Storm (June 11, 2004). Journal of the Legal Profession, Vol. 28, p. 41, 2004. Available at SSRN: https://ssrn.com/abstract=1454813

Susan Saab Fortney (Contact Author)

Texas A&M University School of Law ( email )

1515 Commerce St.
Fort Worth, TX 76102
United States
817-212-3902 (Phone)

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