Based on a recent Lawyers Professional Liability Insurance Conference in Law Vegas, Argo Pro’s Kim Noble released its Top 6 Liability Risks for Lawyers:
1. Cyberattacks—As reported in our Blog, in 2017 22 Percent of the law firms reported a Cyber Attack. This is up from 14% in 2016.
2. Privity Laws--Current case law shows a trend away from strictly adhering to privity laws, making it unclear how far an attorney’s liability for negligence could extend.
3. Marijuana Laws--Although marijuana is still illegal at the federal level, lawyers are being allowed to advise clients on this subject in a growing number of states where it’s legal.
4. Legal Ethics--Law firms should have ethics partners on staff to serve as independent and confidential investigators into ethical issues.
5. Picking the Right Clients--Communication is key to ensuring prospective clients are people you want to represent, who won’t pose unforeseen risks.
6. Trust & Estate--Current trends show lawyers practicing in the estate probate and trust areas are not only facing more claims, but they are also becoming expensive to defend.