Legal Malpractice Payouts Soar, With Virus Claims Looming

Law360 (May 14, 2021, 2:57 PM EDT) -- Legal malpractice claim payouts were the highest on record from 2019 through the middle of 2020, with the figures expected to remain high after the end of the COVID-19 pandemic, according to a new report by insurance broker Ames & Gough.

While the number of claims filed during the period remained relatively flat compared to previous years, the size of payouts surged, according to Ames & Gough's annual survey of 11 leading lawyers' professional responsibility insurers, which together provide insurance to 80 of the 100 largest law firms in the U.S. by revenue.

Nine of the 11 insurers surveyed reported participating...

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