From the Wall Street Journal Blogs:
Legal malpractice claims are up as much as 20 percent this year compared to last at some of the country’s leading insurance providers, a new survey finds.
Lingering effects of the economic recession and the continued real estate slump are fueling the rise in professional liability and malpractice claims brought against law firms, The Am Law Daily and Insurance Journal report.
The survey, managed by insurance broker Ames & Gough, polled six major insurance companies that collectively provide coverage to about three-quarters of midsized and large American law firms. The majority of surveyed firms cited increases anywhere from 6 to 20 percent, although two said claim levels were so far stable this year.
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