Tuesday, July 12, 2016Attorneys continue to be confused with claims-made coverage as to if a claim is covered. If the coverage is not in force at the time a claim is made there is no coverage. Some attorneys assume that claims-made coverage is like an occurrence policy in that if a covered act occurred during the time that coverage was inforce you can make claim at any time in the future. READ MORE >>
Monday, July 11, 2016Many law firms and accounting firms are still spending thousands of dollars on closed file storage. Some firms literally have tens of thousands of bankers boxes of closed client files in warehouses, basements, storage buildings, office space and garages. We are asked many times how long do we have to keep the closed files. READ MORE >>
Friday, July 8, 2016Attorney Malpractice carriers have found that the use of non-engagement letters/disengagement letters can reduce Lawyers professional liability insurance claims. Attorney Malpractice Insurance carriers have defended and paid on claims where the client alleges that the law firm was still rep... READ MORE >>
Thursday, July 7, 2016Overview of Engagement Letters Engagement letters confirm the representations scope setting forth the parties’ responsibilities, billing rates/contingency agreements and expense costs. Engagement letters should discuss the scope and limits of the firm’s representation. READ MORE >>
Wednesday, July 6, 2016Identity theft continues to rise. Researchers say personal details, often found on social media, are being used for taking out things like loans, credit cards or phone contracts in other people's names. It can leave victims with big bills, or a bad credit rating (the points-based system lenders use to decide if you can borrow their cash). READ MORE >>
Tuesday, July 5, 2016Depending on the type of practice an attorney has, the Law Firm could be carrying large balances in Escrow and IOLA accounts. With smaller law firms, the firm may be relying on a “trusted” employee to manage the funds, balance the accounts, deposit funds and write checks. READ MORE >>
Friday, July 1, 2016Don’t give informal legal advice to friends or family. It can be tempting at a party or family event, but it could be harmful to both yourself and the receiver of the advice. Your advice, given casually, may be less well thought-out than usual, or not backed by needed research. READ MORE >>
Thursday, June 30, 2016High on the list of things that send chills down the spine of an attorney is getting an e-mail from the disciplinary committee or state bar association alleging a disciplinary complaint. Playing on those fears is the hope of the hacker that the attorney will open the attachment with the e-mail. READ MORE >>
Wednesday, June 29, 2016As businesses spend billions of dollars a year trying to protect their data from hacking that’s costing trillions, they face another threat closer to home: data theft by their own employees. That’s one of the findings in a survey published by management consultant Accenture PLC and HFS Research. READ MORE >>
Tuesday, June 28, 2016Suits for fees are one of the leading causes of attorney malpractice claims. Some studies suggest that 33% of all malpractice claims are due to fee suits. The larger the percentage in over 90 days past due, the more likely the firm may have other issues when they try to collect the past due amounts that can lead to attorney malpractice claims. READ MORE >>
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