A professional negligence claim is every lawyer’s worst nightmare, and every managing partner’s worst nightmare in particular, because this issue can affect firms large and small.
This Professional Negligence Special Report examines how personal injury firms are failing to take out after-the-event (ATE) insurance to cover the client in the event of a loss. It discusses the problems with ATE cover and asks what the solutions should be.
It also discusses how lawyers should act in relation to opposing counsel and what firms can do to mitigate the risk of facing professional negligence claims.
With a drop-off in transactional corporate work post-credit crunch, many are predicting a rise in negligence claims against solicitors. Professional negligence cover, then, has become a major plank of any firm’s risk management strategy.