Lawyer’s Malpractice Claims on the Rise Due to Sluggish Economy

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Professional Liability Insurance Coverage re-evaluation is vital in protecting your law firm against financial loss, says the Professional Services Plan®.

The economy has taken its toll on all businesses today and law firms are no exception. They have experienced downsizing, pressure to change specialties in order to compete for new business, and other cost cutting measures, according to industry insiders.

"It's hard to pay bills. Firms are really having to trim employees, trim expenses," says Kelley Heide Martin, senior claims specialist in the technical resource center of Scottsdale Insurance Co.

From an errors and omissions perspective this spells trouble for some law firms because such cost cutting measures can result in more malpractice claims. Lawyer Malpractice Claims on the Rise full Article

Now is the time to examine your current liability insurance coverages and ask some very important questions:

1.    Does your current policy offer adequate levels of coverage?
2.    Does your insurance carrier have a high financial stability rating?
3.    Are you looking for broad coverage features at competitive rates?

Lourdes Martinez, AINS, RPLU, CPIW is a Professional Liability Insurance Specialist with Professional Services Plans, and has over 20 years experience in legal malpractice coverage. Lourdes has earned appointments with many A-rated companies, and can help you evaluate your firm’s insurance needs and find options to your current coverage.

Professional Services Plans
Professional Services Plans (PSP), a division of B&B Protector Plans, Inc., is a wholly owned subsidiary of Brown & Brown, Inc., headquartered in Tampa that specializes in Professional Liability.

With access to multiple alternative markets- from Admitted to E&S (Excess & Surplus), PSP partners with carriers that are financially strong and show long-term commitment to the industry.

PSP strives to provide personalized and professional service to its clients. PSP representatives are specifically trained and licensed to sell insurance to professionals.

PSP is consistently exploring new and innovative ways to meet the needs of our clients.

Brown & Brown, Inc.
The drive to be the best has made Brown & Brown, Inc. one of the largest and most respected independent insurance intermediaries in the nation, with over 68 years of continuous service. The Company is ranked as the seventh largest such organization in the United States by Business Insurance magazine.

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Rebecca Carter

Lourdes Martinez, RPLU, CPIW
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