Property work has once again turned out to be the main cause of professional indemnity claims against solicitors.
According to a report by Alexander Forbes Claims Services, 34 per cent of claims from 31 August 2002 to date have been racked up over property matters.
Of the property claims, residential work was the biggest offender, accounting for 24 per cent of claims, while 10 per cent related to commercial property.
Trust and probate work was the next most common cause of negligence actions, claiming 12 per cent of the total. Litigation made up 11 per cent of the causes of claims, personal injury work nine per cent and matrimonial work six per cent. Less risky areas were company commercial, employment and landlord-and-tenant work, which each made up four per cent, and financial work, which made up three per cent.
Even former presidents have trouble paying their legal bills, as Mayer Brown Rowe & Maw and Skadden Arps Slate Meagher & Flom have discovered. The two firms, along with Washington DC-based Williams & Connolly and Arkansas firm Wright Lindsey & Jennings, were owed up to $6.5m (£3.9m) by Bill Clinton and Hillary Rodham Clinton following […]