A relatively new trend, Ames & Gough reported insurance defense lawyers are seeing an increase in malpractice claims. However, an insurer’s ability to sue defense counsel varies by state. In some states, the law is unclear, while in others it is permitted under several legal theories of liability outlined in Ames & Gough report. Courtesy of Shutterstock.com
Although the frequency of legal malpractice claims remained relatively static from 2020-2021, after spiking in 2019, the amount paid per claim continued an upward trend as mistakes became more costly, according to a survey of insurers that write legal professional liability coverage by Ames & Gough.
Ames & Gough reports the past few years have been among the worst on record for legal malpractice claim payouts. In the last two years alone, the market has seen at least five settlements in excess of $1 billion.
