Gilsbar PRO: Malpractice Insurance for Lawyers and Accountants

Risk Management Tools

"SPAC" Clients Pose Unique Risks for Law Firms: Lessons Learned from Defending Lawyers in Malpractice Cases

Representing the sponsor of a “Special Purpose Acquisition Company” or “SPAC” poses unique risks to law firms. SPACs have been around for decades but recently have become an increasingly popular investment vehicle, leading some to call 2021 “the year of the SPAC.” In this article, we explain what SPACs are and why representing their sponsors may pose risks for law firms and lawyers.

Avoiding Liability as a Trustee

Attorneys routinely accept the responsibility of serving as a trustee and then find themselves as the custodian of a significant sum of money. Naturally, to avoid running the trust dry, the attorney-trustee now must become an investor. The responsibility of being a trustee carries with it multiple duties. Explore the different duties a trustee takes on as well as some best practices for avoiding liability.

Lawyers’ Duties Regarding Legal Files After a Client’s Death

Courts uniformly have held that the attorney-client privilege survives the death of a client. Various courts and ethics opinions have also analyzed a lawyer’s responsibilities to former clients to preserve confidential information after the representation concludes. Download this article to read more about lawyers' duties regarding legal files after a client's death.

Spyware, Schemes and Sticky Fingers: Reacting to Client Misconduct

A client’s past misdeeds are rarely a dealbreaker for an attorney-client relationship. Every day, lawyers help clients address the consequences of illegal conduct and analyze the legal aspects of questionable conduct. These discussions are consistent with a lawyer’s ethical responsibilities. This article explores situations where client misconduct pits an attorney’s duties to a client against duties owed to courts, third parties, and the general public.

Law Firm Website Woes: Educating and Disclaiming Prospective Clients

Few readers would contemplate the creation of an attorney-client relationship by reading a publication in print, via email or on a website. Has one been formed, however, regarding attorney interactions with prospective clients via law firm websites, emails, social media, etc.? In this article, we explore interactions between attorneys and prospective clients and techniques to explain and disclaim the formation of an attorney-client relationship.

Wire Transfer Fraud: A Growing Threat to Law Firms

The practice of law involves advising clients on the risks and benefits of potential courses of action. Lawyers must often serve as their own risk managers in managing their professional practices. Law firms face an increased threat of wire transfer fraud via social engineering schemes from cybercriminals. Read this article to learn more about wire transfer fraud and preparing for these realities prior to an attempt.

Silence is Golden…Or is it? Thorny Issues Involving the Concealment of Information from Opposing Counsel

Concealment from your adversary can be unethical even where there is no specific legal obligation to disclose if concealment is otherwise found to be dishonest or misleading. Lawyers must balance their duties to their clients against both express legal duties to adversaries and general duties of truthfulness. Read this full article for examples of different scenarios in which non-disclosure issues may arise.

From Here to There: Elements of an Effective Screen When Onboarding a Lateral Hire

You have an attorney position to fill, and have found the perfect candidate with the right credentials, experience and book of business, who clears the initial conflicts checks. How can your firm implement an effective conflicts of interest screen and have some comfort in its effectiveness if and when the time comes to defend against a disqualification motion?

Hot Mics and Live Video: Best Practice Tips for Remote Appearances

As we approach a second year of virtual meetings, depositions and court appearances, this is a good time to pause and reflect on what works and what doesn’t work in a remote law practice. Inadvertent screen shares and hot microphones have offered valuable lessons learned for attorneys. Here are ten best practice tips for mitigating risk during remote appearances.

Minimizing the Impact of COVID-19: A Menu of Ideas for Lawyers

In today’s legal environment, lawyers have been required to chart a changing course in order to provide competent legal services to their clients in the face of an unprecedented pandemic. Here we identify some of the potential effects of the pandemic on the legal profession, as well as some strategies to consider in addressing those impacts.

Better with a Letter: Key Considerations in Engagement Letters Usage

As a leader in the lawyers' professional liability insurance marketplace, we stress the importance of engagement letters in our articles, guides and risk control courses.

Conflict of Interest Issues in Representing the Client and an Employee

Occasions arise, especially in litigation, where a lawyer for an entity may find it useful to represent an employee, or other constituent of the entity, for some limited purpose. This dual representation of an entity and its constituent raises a number of practice issues.

The Remote-Ready Law Firm: Managing the Long-Distance Relationships

The benefits of facilitating remote work are well worth the investment, enabling a firm to maximize productivity when traveling, attract top-level talent, and maintain functionality during a crisis.

Business Transactions Between Client and Lawyer

Small firm lawyers are all too familiar with price sensitive clients – those who may not be accustomed to the varying fees associated with legal services. What if the client offers to give you an interest in a transaction? Is this a good idea? Or even ethical?

Legal Duties of Local Counsel

As local counsel, what duties do you owe to the client? This article will review various positions taken by courts across the country, and also provide a best practices checklist.

Responding to Negative Online Reviews

Almost every attorney has experienced a client with unreasonable expectations or one who has terminated the representation for no apparent or articulated reason. What should you do when a former client leaves a negative review online?

Reminders and Resources for Law Firms During the COVID-19 Pandemic

Covid-19 has changed the way we do business. Here are some reminders and resources for your firm to help make sure you’re following best practices during this turbulent time.

Are You Prepared for Cyber Attacks?

Unlike physical threats that prompt immediate action—like stopping, dropping and rolling if you catch on fire—cyber threats are often difficult to identify and understand. Are you prepared for a cyber attack? Learn more about how to get ready and what to do if it happens to your business.

Coverage Insights - General Liability Insurance

The only way to effectively protect the assets of your business is to carry adequate commercial general liability (CGL) insurance coverage. Find out what CGL covers, what coverage you need, and what exposures you may have.

Six Factors Driving Commercial Auto Loses

Learn what trends have contributed to the rise of commercial auto losses, how to avoid them, and how to decrease your exposure.

Protect Against Risks With an Umbrella Policy

Learn what a personal umbrella policy is, why you need it as a small business owner, and how it can help protect you and your business.

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