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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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law practice management

Attorney realizing a misstep has occurred

3 min read

How to Avoid Common Co-Counsel Relationship Missteps

Co-counsel relationships are sometimes formed “on the fly,” meaning no thorough discussion as to who will be responsible for whatever occurs. This can be disastrous if both attorneys assume the other will meet a critical deadline and then neither...

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Man caught in a trap.

6 min read

How to Avoid Common Conflict of Interest Traps

Particularly in the solo and small firm setting, conflict missteps are often not a “whoops, we missed that name” kind of thing. More often the...

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attorney delivering an engagement letter

3 min read

Why It’s Important to Document Scope of Representation

I know lawyers get tired of hearing it and risk folk like me get tired of always having to say it; but there is real value in documenting scope of...

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Making a decision

3 min read

What Non-Engagement Letters Really Do

Over the years I have found a real disparity among attorneys as to their willingness to write non-engagement letters. You know the one. It’s that...

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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...

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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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woods as a metaphor for the statutes of limitations

3 min read

Are We Out of the Woods Yet? Statutes of Limitations for Legal Malpractice Claims

If you’re coming across this post, chances are that you’ve just Googled something like, “what is the statute of limitations for legal malpractice...

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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 successful attorney starts their own practice

3 min read

Business Insurance Risks Every Law Firm Should Understand

When you hear that an attorney is “hanging their shingle” you think of a lawyer starting a new practice on their own or with a partner or small group...

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two lawyers create their business plan for their law firm

2 min read

Insurance Coverage Every Small Law Firm Should Consider

When you think of protection from malpractice as an attorney, we hope you think of ALPS. For over 35 years ALPS has focused exclusively on the...

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