This comprehensive guide breaks down how step rate pricing affects professional liability insurance and offers practical insights to help law firms manage rising premiums over time.| blog.protexurelawyers.com
For attorneys managing risk, knowing what a claims-made policy is can make all the difference when protecting your firm from legal malpractice claims. This type of policy is common in professional liability insurance, yet it is often misunderstood—especially when comparing it to occurrence-based coverage. This blog breaks down how claims-made policies work, their advantages and risks, and what happens if coverage lapses—especially for solo and small-firm attorneys planning their retirem...| Protexure Lawyers Blog
Risk management for law firms requires proactive policies, consistent monitoring, and the right insurance to reduce liability and protect your practice.| blog.protexurelawyers.com
One of the most important distinctions to understand when purchasing professional liability insurance is admitted vs non-admitted insurance. This classification can affect everything from how your policy is regulated to how claims are handled during insolvency. If you are unsure what these terms mean, or why they matter when choosing a policy, you are not alone. This guide breaks down the differences, advantages, and drawbacks of admitted and non-admitted carriers—so you can make an infor...| Protexure Lawyers Blog
Roughly four out of five attorneys will face a malpractice suit during their careers, and 70 percent of all malpractice claims target firms with five or fewer attorneys. For solo and small-firm lawyers, the risk of a claim is not hypothetical—it is highly probable. Even attorneys acting in good faith and with diligence can be accused of professional negligence. Legal malpractice claims can cause serious damage to a lawyer’s finances, professional reputation, and ability to practice. Whe...| Protexure Lawyers Blog
The American Bar Association (ABA) estimates 80% of attorneys will defend against a malpractice claim at some point in their careers. And small or solo firms are disproportionately targeted, with 70% of all malpractice suits aimed at firms with five or fewer attorneys. That is why legal malpractice insurance is critical for small and solo firms, even though it is not strictly required in most states.| Protexure Lawyers Blog
The Corporate Transparency Act (CTA), effective January 1, 2024, has reshaped the regulatory landscape for small businesses in the U.S., and law firms are not exempt from its impact. While aimed at curbing illicit finance, the CTA for law firms introduces new responsibilities, raises ethical questions, and brings substantial penalties for non-compliance. Let us unpack what the CTA is, why it exists, the controversies it has sparked, and what it means for attorneys and their clients.| Protexure Lawyers Blog
In a profession built on precision, diligence, and trust, lawyers often believe avoiding errors is simply a matter of good practice. But no matter how cautious or experienced you are, risk is part of the job. Malpractice insurance for lawyers is not just a financial safeguard; it is essential protection against the unpredictable realities of legal work. Practicing law involves interpreting complex regulations, managing deadlines, and offering advice that can alter the course of someone’s ...| Protexure Lawyers Blog
Learn how the Corporate Transparency Act (CTA) affects law firms in 2025. Explore reporting duties, applicant risks, and how to protect your firm from legal exposure.| blog.protexurelawyers.com
Selecting professional liability insurance requires careful consideration of coverage limits, deductible structures, and cost implications. With a range of options available, firms must evaluate insurance policies to ensure they align with financial goals and risk tolerance.| Protexure Lawyers Blog
