By the time you’ve made partner at a law firm, you’ve essentially mastered the art of delegating the business minutiae associated with law practice. Running a practice is hard enough—revenue is key, and non-chargeable time spent is often perceived akin to drilling the proverbial dry hole. So when it comes to insurance for the practice, it’s no surprise that most attorneys have little sense for what they have or what they need.
In fact, as someone who has worked with law firms for more than 15 years as both an attorney and as an insurance adviser, I have observed that most have only a cursory sense of their firm’s coverage. Even lawyers who specialize in insurance matters are all too quick to delegate the matter to their non-professional staff.
