Legal malpractice claims against large law firms held steady in 2017, but the number of high-dollar payouts against firms and the cost of defending against malpractice allegations have increased, according to a new insurer report.
McLean, Virginia-based insurance broker Ames & Gough on Tuesday issued its annual report evaluating lawyer professional liability claims, finding that eight leading insurers had participated in claim payouts worth more than $20 million—an amount that accounts for indemnity and defense costs. A smaller group of five firms took part in claim payouts worth a total of more than $50 million, the study found.
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