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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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insurance for law firms

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 got the one thing you can’t live without.” “We’re your one-stop shop for everything you need.” “We...

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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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3 min read

I Want to Be a Contract Attorney. Do I Need To Purchase My Own Malpractice Insurance Policy?

Get ready for a typical lawyer response, because the answer is maybe. It all depends upon the specifics of the situation. Let’s take a look at three...

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3 min read

Theft of Client Funds and the Interplay Between Bad Actors and Innocent Insured Coverage

A question that occasionally comes up concerns insurance coverage for the loss of client funds. This is a particularly troublesome concern due to...

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2 min read

So, You Want to Do Insurance Defense Work?

If you are still reading this blog post after reading the title, then you have either done work for or are interested in doing work for an insurance...

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4 min read

6 Things I Wish Lawyers Understood About Malpractice Insurance

Look. I get it. Insurance policies aren’t the most interesting reads out there. No policy is ever going to hit the New York Times bestseller list....

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5 min read

Why Purchasing Legal Malpractice Insurance Is Always a Good Business Decision

As a risk manager for a nationwide legal malpractice insurer, I am sure it comes as no surprise that I believe the purchase of legal malpractice...

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3 min read

Five Things You Can Do to Help Keep Your Malpractice Insurance Premium in Line

I have been a risk manager here at ALPS for well over two decades now, which helps explain why I personally view the purchase of legal malpractice...

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2 min read

How to Avoid the Small Firm Tail Coverage Trap

Just as with small businesses in every sector, small law firms have widely varying outcomes in terms of business longevity. Over the years, I’ve...

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2 min read

Why Lawyer Mediators and Criminal Defense Attorneys Should Consider Purchasing Malpractice Insurance

More than a few lawyers who exclusively practice in the mediation or criminal defense space believe that purchasing malpractice insurance is a waste...

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3 min read

A Tale of Two Calls – Insuring Past and Future Exposures

Two calls that I recently took almost back to back really surprised me. The first came from an attorney who was retiring in another month or so. He...

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2 min read

Malpractice Insurance Basics: Part 2

Prior Acts Coverage With the short history lesson of Part 1 behind us, we can now start to dig into the basics of malpractice insurance. In order to...

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2 min read

Malpractice Insurance and the Dreaded Reservation of Rights Letter

I suspect having to deal with an allegation of malpractice isn’t something anyone would put on a list of “things I look forward to” for all kinds of...

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