As law firms change, so do their insurance needs. While most law firms recognize that maintaining legal malpractice insurance is a necessary expense, too many firms neglect to review their insurance on a regular basis to ensure it fits their current needs and represents the best product available on the market.

The starting point for an insurance check-up is the policy application. Law firms are typically required to complete an application on an annual basis, which can either be an application for a renewal policy from the firm’s current insurer or for a new policy from a different insurer. That process typically starts months before the current policy expires.