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Full-Text Articles in Law
Mandatory Legal Malpractice Insurance: Exposing Lawyers' Blind Spots, Susan S. Fortney
Mandatory Legal Malpractice Insurance: Exposing Lawyers' Blind Spots, Susan S. Fortney
Susan S. Fortney
The legal landscape for lawyers’ professional liability in the United States is changing. In 2018, Idaho implemented a new rule requiring that lawyers carry legal malpractice insurance. The adoption of the Idaho rule was the first move in forty years by a state to require legal malpractice insurance since Oregon mandated lawyer participation in a malpractice insurance regime. Over the last two years, a few states have considered whether their jurisdictions should join Oregon and Idaho in requiring malpractice insurance for lawyers in private practice. To help inform the discussion, the article examines different positions taken in the debate on …
Legal Malpractice Insurance: Surviving The Perfect Storm, Susan Saab Fortney
Legal Malpractice Insurance: Surviving The Perfect Storm, Susan Saab Fortney
Susan S. Fortney
This article serves as a practical guide to legal malpractice insurance. Part I introduces the topic of legal malpractice insurance with a brief overview of the changes that occurred in market conditions in 2000 and the subsequent effect on insurance premiums and coverage. Part II outlines the different types of insurance coverage that are available to legal professionals by describing common policy terms, exclusions, and conditions that affect coverage. Part III describes changes in law firms that may affect coverage. Part IV provides legal professionals with useful advice to consider when choosing an insurance policy. Part V reveals important factors …
High Drama And Hindsight: The Llp Shield Post-Anderson, Susan Saab Fortney
High Drama And Hindsight: The Llp Shield Post-Anderson, Susan Saab Fortney
Susan S. Fortney
This article explores several disadvantages associated with limited liability partnerships (LLPs) in the wake of the Anderson-Enron debacle. The article explains how conversion to LLP from a traditional partnership may undercut the incentive for partners to devote time and resources to monitoring and risk management activities. Additionally, the article notes that conflicts may arise regarding the payment of debts when a firm, without sufficient malpractice insurance, converts to an LLP. The article delves into the exodus problem caused by the lack of partners’ commitment to the firm. The article also describes the tension between partners over malpractice insurance decisions that …