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Insurance Glossary

The world of insurance for law firms can be confusing, and difficult to navigate. We've created this glossary because these common insurance terms should be easy to understand.

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Mark Bassingthwaighte, Risk Manager

Since 1998, Mark Bassingthwaighte, Esq. has been a Risk Manager with ALPS, an attorney’s professional liability insurance carrier. In his tenure with the company, Mr. Bassingthwaighte has conducted over 1200 law firm risk management assessment visits, presented over 600 continuing legal education seminars throughout the United States, and written extensively on risk management, ethics, and technology. Mr. Bassingthwaighte is a member of the State Bar of Montana as well as the American Bar Association where he currently sits on the ABA Center for Professional Responsibility’s Conference Planning Committee. He received his J.D. from Drake University Law School.

Trusted staff balancing the books.

3 min read

8 Safeguards to Ensure You Can Trust Your Law Firm Employees

I continue to be surprised at the number of times I learn that a law firm turned over complete oversight of client property to a non-attorney member of the firm’s staff. More often than not, the reason for doing so seemed to be that this individual...

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an attorney and their successor sit down to discuss a law firm succession plan

4 min read

Solo Attorneys: Don't Wait to Figure Out Your Succession Plan

The two most common excuses I’ve heard over the years for not having a succession plan in place are these. It’s either “my plan is to die at my...

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Lawyer holding other people's money.

5 min read

7 Ways To Stay Out of Trust Account Trouble

Trust account problems remain one of the top reasons attorneys are disciplined here in the US. And while there have been and will continue to be...

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Ducks in a row

4 min read

When Sharing Office Space, Make Sure You Have Your Ducks in a Row

I once came across a comment on a blog post about attorneys sharing office space that stated malpractice insurance companies and those who write our...

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two unprofessional lawyers are not setting the right impression for their future clients

6 min read

Why First Impressions Matter

Like you, I’ve been a consumer for years and the older I get the more I’ve come to recognize the impact of first impressions on my spending...

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a lawyer saying

3 min read

Why It’s Important To Be Able To Say "No"

Some people seem to struggle when it comes to saying no. Perhaps they view it as requiring them to be confrontational and confronting someone can be...

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Cookies

4 min read

How Little Things Can Turn Into Big Problems

When I was young, I tried to bake cookies on my own as a surprise for the rest of my family who was away for a few hours. I had yet to appreciate the...

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lawyers discuss conflict waivers

2 min read

Joint Representation Conflict Waivers – Why You Can't Have It Both Ways

An estate planning firm asked me to review several sample Consent to Joint Representation forms they were using with their clients; and what I found...

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Lawyer receiving notice of a malpractice counterclaim.

6 min read

How to Avoid the Legal Fee Suit Counterclaim

You finish a client matter. You feel good about the quality of your work, and you are pleased that you got such a good result for your client. Then,...

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thank you letter from an attorney sits on a wooden desk

5 min read

Don't Underestimate the Importance of Closure Letters

Over the years, I have found that the use of closure letters varies greatly, not only between firms, but even between attorneys practicing at the...

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3 min read

How to Make the Right Impression When Applying for Malpractice Insurance

Of course, a malpractice insurance underwriter will review everything a law firm submits in its application and obviously a great deal can be learned...

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