Controlling Costs of Legal Malpractice Insurance
1 hour 30 minutes
Understand the basics of legal malpractice insurance and what you are paying for when purchasing insurance.
Legal malpractice insurance is a significant expense for any law firm, and for good reason. Most law firms understand that when claims arise, they do not want to be left unprotected or with insufficient insurance. But too often, law firms believe that insurance is one size fits all or that there is nothing that can be done about the high premiums paid for their insurance. This topic will provide a background on the key drivers of insurance premiums and provide tips for reducing the cost of legal malpractice insurance while still ensuring that the law firm has the insurance it needs. This includes suggestions that not only impact insurance but that help improve the health of the firm as a whole. This information will help you understand the basics of legal malpractice insurance and what you are paying for when purchasing insurance year after year.