If a lawyer has what I call an eroding malpractice policy, wherein the amount of the policy can be reduced by the legal fees of defending the lawyer, does that meet the requirements in Pennsylvania for adequate malpractice insurance coverage?
First, there is no requirement in Pennsylvania for a lawyer to have legal malpractice insurance. It’s in the lawyer’s interest to have legal malpractice insurance. A responsible lawyer would have legal malpractice insurance because no one is perfect and people make mistakes. If the lawyer makes a mistake, one would hope the client could be compensated for that mistake. Malpractice insurance protects the lawyer’s assets or, if the lawyer has no assets, provides a way for the client to be made whole.
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