The first time many attorneys read their legal malpractice insurance policy is when a claim has been made against them. Unfortunately, by then, coverage is fixed in place by the policy with conditions, limitations and exclusions.
The best time to review a legal malpractice policy is during the immediate two months before renewal, especially in today’s competitive insurance market. Rarely have there been so many options available but with so much risk. Reliable, cost-effective legal malpractice insurance is readily available in today’s “soft” market. Attorneys have to be careful in making sure the coverage they get matches the coverage they need.
