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Legal Malpractice Insurance & Claim Avoidance 101

Total Credits: 1 including 1 Ethics

Average Rating:
   16
Categories:
Law Practice Management
Faculty:
JoAnn L. Hathaway
Course Levels:
Intermediate
Duration:
1 Hour 01 Minutes
Format:
Audio and Video
License:
Access for 60 day(s) after purchase.

Tags: Legal Malpractice Legal Ethics Law Practice Management Malpractice Insurance

Description

Selecting legal malpractice insurance can be a daunting undertaking.  Due to lack of understanding, lawyers often find themselves without adequate coverage when a claim occurs.  This “too little too late” scenario could have been avoided if they had purchased coverage knowing some basic insurance concepts.

In addition, many policies provide coverage outside the realm of legal malpractice coverage, such as coverage for disciplinary actions and employment practices liability.  Often unaware or having forgotten such coverage was part of their policy, many lawyer-insureds never avail themselves of these and other protections they have under their policy of insurance.

During this informative, eye-opening program, you’ll learn about:

  • Policy pricing
  • Assessing carriers
  • The importance of the insurance application
  • Interpreting your coverage
  • Claims-made coverage
  • How to choose coverage limits
  • How to select your deductible
  • Policy endorsements
  • Policy “add-ons”
  • Why you should avoid coverage gaps
  • What to do when changing firms and carriers
  • Which claims are the most prevalent
  • The ABAs top 10 traps that can get you into trouble

Join JoAnn Hathaway as she helps to demystify the world of legal malpractice insurance.  Becoming an informed insured will help you protect your practice and sleep at night.

Handouts

Be Selective When Choosing an Insurance Carrier (273.2 KB)

All insurance carriers are not equal. As a result, prospective policyholders should learn some insurance basics—specifically, how to assess which insurance carrier best fits their needs.

 2 Pages Available after Purchase
Legal Malpractice Insurance & Claim Avoidance 101 (746.8 KB) 15 Pages Available after Purchase
Lawyers Professional Liability Insurance: Understanding Coverage Limits (116.2 KB)

You have just passed the bar and know you need to obtain lawyers professional liability insurance/malpractice insurance (LPL) as you open your new law firm. Your first question to your agent is, “What limits should I obtain?” A wise agent would respond, “That depends.”

 2 Pages Available after Purchase

Faculty

JoAnn L. Hathaway's Profile

JoAnn L. Hathaway Related Seminars and Products

JoAnn L. Hathaway is a practice management advisor for the State Bar of Michigan, where she developed, launched, and oversees the Bar’s practice management program. She previously worked as a legal liability claims director, risk manager, paralegal, and legal administrator. She holds undergraduate degrees in Paralegal Studies, and Management and Organizational Development from Spring Arbor University, and a graduate degree in General Administration from Central Michigan University. 
 
She is an Adobe Certified Expert, is a Certified Clio Product Pro, and holds software certifications in LexisNexis Time Matters and Billing Matters software. She is a Registered Professional Liability Underwriter, a licensed property and casualty insurance agent, and the author of the ABA publication Legal Malpractice Insurance in One Hour for Lawyers. She is active in the ABA Law Practice Management Division, serving on the Publishing Board and Law Practice Today Editorial Board, and is a frequent speaker on law firm technology, insurance, and risk and practice management topics.

Reviews

5
4
3
2
1

Overall:      4.4

Total Reviews: 16

Comments

Brenda S - Albuquerque, New Mexico

"How to better evaluate conflicts."

Angel B - Woolwich, Maine

"file memo's and disengagement letters"

Eamonn H - Lewiston, Maine

"disengagement letters"

Jeffrey R - Portland, Maine

"Maintaining a reasonable workload"

Dick T - Bangor, Maine

"better, regular documentation"

Lynn B - Santa Fe, New Mexico

"reading my policy closer for exclusions and asking about coll endorsement."

Kathleen B - Kennebunkport, Maine

"Consider a CEOL add-on policy "

Roger E - Los Ranchos (Albuquerque)I, New Mexico

"looking at my present policy to give notice of incidents"

Linda R - Rumford, Maine

"It reaffirmed our use of a dual calendar system, opening and closing letters. I will review the biggest mistake again. I will make sure our policy has the special designation. "
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