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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.

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 a difficult thing to do. Or, perhaps they view it as being rude. As an aside, while one certainly...

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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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lawyers make their business plan

5 min read

Lawyers: How and Why to Implement a Business Plan to Guide Your Firm

Successful businesses of all shapes and sizes often take time once a year or so to review and update their mission statement, strategic plan, and...

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3 min read

Ask the Right Questions When Shopping for Malpractice Insurance

Every one of us has heard the pitches. “Bigger is better.” “We’ve been in business for over 100 years so we’re the one company you can trust.” “We’ve...

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4 min read

Passive Management: Is Your Law Firm Lacking Leadership?

After having consulted with over twelve hundred law firms over the years, trust me when I say that more than a few small law firms around the country...

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17 min read

ALPS In Brief - Episode 67: Going "Solo" in the Wilderness with Callie Russell

What does herding goats, surviving 3 months in the Canadian tundra, and eating porcupines have to do with practicing law? In this episode, Mark sits...

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7 min read

Insuring the Business Risks of a Law Practice

While certain business risks can be unpleasant to think about and others are all too easy to minimize; unexpected things can and do happen, even to...

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