Legal Malpractice Suits May Be Coming Your Way

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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About plushq

The Professional Liability Underwriting Society (PLUS) was founded in 1986 by industry professionals who recognized the need for a forum for individuals involved in the field of professional liability. The Society is a non-profit organization with membership open to persons interested in the promotion and development of the professional liability industry. Membership consists of over 6,500 individuals, representing over 1,000 companies active in the many fields of professional liability. PLUS currently receives the support of more than 200 companies through corporate membership. PLUS is recognized as the primary source of professional liability educational programs and seminars, assistance to its members to help serve clients, and information regarding professional liability. The Society is continually seeking new means to fulfill its mission statement and better serve its members.

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