The torrent of deal work since late 2020 has helped to generate another spike: a striking number of high-value legal malpractice claims. When joined with a growing level of cybersecurity risk, it should be no surprise law firms’ overall insurance expenses are on the rise.
Several legal malpractice experts believe that the alignment of spiking demand with a tight talent market is creating an environment where attorneys in transactional practices are putting in more hours than ever—and consequently making more errors. And there’s some sentiment that remote work has also introduced more into the process.
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