Risk Management in the Remote Work Environment

The novel COVID-19 pandemic has created new working conditions for most of us. How we work and how we interact with each other has drastically changed over the past months. With new territories comes increased risk, some known and other risks are still unknown. Therefore, it is vital that lawyers continue to take precautions to minimize the risks of legal malpractice lawsuits while navigating the remote environment. Most of the claims reported during “normal” times are as a result of [...]

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Remote Work: Productivity and Mental Health Tips

Even as offices reopen, especially as COVID-19 cases continue to fluctuate across the country, many companies have adopted more flexible work from home policies, allowing employees to work outside the office more frequently and sometimes even on a regular schedule. Working from home comes with distractions like children, spouses, pets and access to TV and food, plus it presents challenges like slow Wi-Fi, distracting noises or software issues. This environment, coupled with negative headlines, social isolation and fear of catching [...]

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Why An Effective Calendaring System is Important

Personal injury/property damage – plaintiff is the area of law with the most frequent legal malpractice lawsuits. Approximately 30% of the cases received in the past decade are personal injury/property damage-plaintiff cases.These cases include but are not limited to, product liability, medical malpractice and accident collisions. The most common types of errors usually result in a missed deadline. These errors include: Failure to know or ascertain deadline correctly, failure to react to calendar, failure to calendar properly and procrastination [...]

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Collection + Bankruptcy Errors: What You Need To Know

As consumer debt increases, so does the demand for collection and bankruptcy legal services. According to the Bureau of Consumer Financial Protection (CFPB) 2020 annual report, “the volume of new debt placed in the litigation channel has increased significantly.” This indicates a growing market for collection and bankruptcy lawyers. It may be tempting for an attorney to increase profitability by handling a large volume of these cases, but this obviously comes with increased risk of a legal malpractice lawsuit [...]

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Common Estate, Trust & Probate Errors + Tips for Managing Your Risk

Estate, trust and probate law is an area of practice concerned with the management and transfer of wealth. This is usually handled by using a variety of legal instruments such as but not limited to wills and trusts. Claims originating from this area have been rising and are expected to continue to rise as baby boomers transfer their wealth. The frequency of claims in this area of law is high; however, 70% of these claims usually close out with [...]

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Real Estate Transaction Errors: What You Need to Know

Even the best attorneys make mistakes, but not all mistakes made by attorneys qualify as legal malpractice. According to the American Bar Association (ABA), 4 out of 5 lawyers will get sued for malpractice in their legal career. The likelihood of being sued is greater for real estate attorneys, as it is one of the high frequency areas of practice. There are many mistakes that can be made during a real estate transaction, such as errors in preparing a deed [...]

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Common Family Law Errors and How to Mitigate Your Risks

Family law is the area of law that deals with matters of the family. This includes, but is not limited to, prenuptial agreements, separation, divorce, child custody, child support, adoption and surrogacy. Family law is one of the areas of law with a relatively high number of legal malpractice suits. However, these lawsuits are typically low severity cases. About 70% of the claims received in this area close out with no loss payment. Emotions run high in these cases and [...]

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Transaction Law: Risky Business for Legal Malpractice Suits

Contrary to popular perception, business transaction and commercial law is a high-risk area of practice for attorneys. It is the ONLY area of practice that is high in both frequency and severity. For attorneys practicing in this area, this should be a concern, as they can be hit by multiple high cost legal malpractice lawsuits. However, these risks can be mitigated be securing lawyers professional liability insurance and integrating risk management techniques. Business transaction and commercial law pertains to the [...]

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The 4 Most Common Types of Legal Malpractice Errors

Lawyers make unintentional errors every day – in hard and easy cases, in trials and transactions, in large and small firms, and across many areas of practice. Deadlines, long hours, demands from clients and more contribute to this, and even the most meticulous lawyer is bound to make a mistake at least once in his or her legal career. These law firm errors are not all equal, and can span across different parts of the business, from operational errors [...]

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6 Areas of Practice with the Most Frequent Malpractice Lawsuits

Legal malpractice lawsuits can be costly for any law firm, but the potential cost of malpractice claims can vary significantly based upon the areas of law concerned. Some areas have a high frequency of lawsuits filed, while others have more severe costs of defense and settlement. Knowing where your area of practice stands in this regard is important when looking for suitable legal malpractice insurance. Analyzing recent trends in malpractice claims is one way we help Oklahoma attorneys secure [...]

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