What is a Step Rate Credit? Many attorneys have questions about what the Step Rate Credit is and how it works.
Simply put, this is a credit issued to you throughout your first five years on a declining scale.
Due to this you will see your
There are many reasons why lawyers may choose to close a firm. Ideally, there is a plan in place and time to address specific issues, such as finances, clients, office space and equipment. However, in many instances, a firm may close due to unforeseen circumstances
Here’s the scenario: You represent a fiduciary of an estate. You want to make sure she is properly appointed and bonded, and then you want to move onto other cases. Right? Not so fast!
The fiduciary has an ongoing responsibility to the estate.
Make sure you and your client are on the same page. The use of properly drafted engagement letters is not only a critical risk management tool, but also forms the foundation of client communication and trust. Even if your jurisdiction does not mandate the content
Lawyers’ professional liability insurance is a highly specialized area and unique to the insurance industry. This type of insurance – also referred to as Errors & Omissions Insurance – is critical in protecting your law firm and yourself as an attorney in the event of
In today’s economy, everyone is looking for the “best deal” in virtually every purchase they make. This is also true for lawyers and their professional liability insurance. Insurance companies are also looking to provide the best possible premium offer in a competitive market, by applying
The standard of whether attorneys working in an office sharing arrangement will be held liable for the malpractice of their co-tenants is if a reasonable client would conclude that the attorneys were a firm or that some other lawyers in the arrangement should have been
In the past, companies created business plans as a necessary tool to success. Today, law firms are implementing business plans to provide direction and evaluate their past and current performance.
The Missouri Bar has taken an active role in the placement of professional liability coverage for its members since the late 1970’s. In 1983, CNA no longer expressed interest in the Missouri program and other commercial carriers were either exiting the market or forcing