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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PHIL’S CORNER: Cycles in the Insurance Industry – Here’s How It Affects You (And Us, Too)

Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month.For nearly 40 years, OAMIC has been the only local provider of legal malpractice insurance that is based in the state of Oklahoma. We take great pride in our local roots and do our best to be your MVP – Most Valuable Partner. Part of that MVP role includes having an open dialogue with our insureds about today’s insurance market, [...]

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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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Practical Tips to Improve Efficiency at Your Law Office

Solo lawyers run their own show and wear many hats, while also facing several challenges. But of all the challenges, time management just might be the most difficult to handle. To give your practice the best chance of success, you must be efficient, meaning you achieve maximum productivity with minimum wasted effort or expense. Here are a few tips to help keep your overhead low and your efficiency high. BATCHING AND AUTOMATED TASKS:Batching: Doing similar tasks in one sitting instead of [...]

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Things to Consider When Closing Your Law Practice

There are many reasons that lawyers may choose to close their practices: a career change, disability, moving out of state, or retirement are the more common ones that we hear. You may be asking yourself, “How do I go about doing this?” Shuttering your practice can be daunting and seem overwhelming; therefore, it needs to be approached thoughtfully. It’s important to make sure that loose ends are tied up and all of your ducks are in a row.  The [...]

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PHIL’S CORNER: What Differentiates Successful Law Firms

Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month.Have you ever thought about attempting to map out a strategy to achieve guaranteed year-over-year revenue growth for the firm?   Maybe you’ve actually considered ways to attract additional clients to the firm. We read about the increasing need for people and companies who struggle to solve their legal problems. At the same time, a good number of law firms [...]

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OAMIC Announcement: New Insured Portal Goes Live

At OAMIC, our goal is to continue raising the bar for our insureds. We are the only local provider of legal malpractice insurance, and that’s not something we take for granted. We strive to always provide unparalleled customer service. In this day and age, that customer service committment must extend to our online portal. The redesigned portal has many enhancements, including these key features: ACCESS IT ANYWHERE. The new portal includes a fully-responsive design, meaning you can easily access it from [...]

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What Legal Malpractice Is… And What It’s Not

It’s a myth that only bad lawyers have malpractice claims. In fact, the American Bar Association estimates that each attorney can expect 2-3 claims in their career. But what exactly does a legal malpractice claim entail? Let’s discuss. To establish a legal malpractice claim, the Plaintiff/Claimant must prove these 5 things:The existence of an attorney-client relationship; A breach of the lawyer’s duty to the client; Facts constituting the alleged negligence; The breach of duty caused the damage to the client; “But for the lawyer’s [...]

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PHIL’S CORNER: How Much Legal Malpractice Coverage is Enough?

Phil’s Corner is a special column from OAMIC’s President & CEO Phil Fraim that is sent in our e-newsletter each month.The number one question I get asked by our insureds is, “What limits do I need?” It’s a tough question to answer, because no magical formula exists. I often facetiously tell people that if they can tell me what they’ll be sued for, we can set the limit very accurately. Absent that ability, we have to focus our attention [...]

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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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