Malpractice Landscape Is Becoming Riskier For BigLaw

Law360 (February 11, 2020, 2:50 PM EST) -- While it used to be taboo for large companies to sue their lawyers — even when the lawyers made horrible mistakes costing companies substantial sums of money — that taboo is disappearing.

Insurance broker and risk management consultant Ames & Gough’s ninth annual survey of leading lawyers’ professional liability insurance companies[1] revealed an increase in new malpractice claims brought against law firms, with the largest number of claims stemming from four practice areas: business transactions, trust and estates, corporate and securities, and real estate. 

Increasingly, general counsel have concluded it is appropriate to sue high-priced law firms who make mistakes and have...

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