When it comes to legal malpractice insurance, many law firms may be comfortable using the “if it ain’t broke, don’t fix it” approach. As a result, firms may renew their current legal malpractice policy without checking to see whether there are better options available on the market, or without discussing with their insurer whether there are other perks available to them by staying. By failing to take advantage of these options, law firms may be losing out on cheaper premiums or better coverage (or both) available from other insurers or even from their own insurer.
Of course, there are many good reasons to stay with the same insurer every year, especially if a firm has a good relationship with its insurer. However, it can be helpful to be aware of developments in the market, as new products are constantly introduced that may be a better fit for the particular risks faced by a law firm.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
