Professional liability insurance Archives

Avoiding Lateral Hire Risks

Changing jobs is quite a bit more complex for lawyers than for other professionals. Besides all the usual challenges of onboarding and adapting to a new company culture, lawyers also have to navigate a variety of professional obligations to their clients and firms. It’s a situation that can often lead to stress, conflict and litigation.

Bringing a new attorney into your firm as a lateral hire comes with a number of risks for the firm, as well, from a high rate of failure to potential malpractice claims. Here’s what to know about avoiding lateral hire risks and setting new hires and your firm up for the best chance of success.

Challenges Faced by Firms Hiring a Lateral

The failure rate for lateral attorneys is surprisingly high — lateral hires fail in as […]

The 3 Cs of Law Firm Insurance

Most lawyers look for firm insurance with three objectives in mind — coverage offerings that are consultative, competitive and convenient. At Lockton Affinity Lawyer, we call these the 3 Cs. Here’s how we meet the need.

1. C Is for Consultative

A consultative approach ought to be the standard for law firm insurance. But most of the time, it isn’t. All too often, shopping for firm insurance can feel like a trip to the store — you head to the right aisle, pick an option that looks good, pay at the front counter and hope for the best.

This isn’t a bad strategy when picking out a frozen pizza, but it leaves a lot to be desired when it comes to the insurance you’re counting on to protect your practice. Claims these […]