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It had to happen. The nationwide epidemic of litigation fever has spawned an explosion of lawsuits against attorneys, pushing legal 
malpractice rates through the roof. More disgruntled clients are suing their lawyers as a convenient “deep pockets” source of reparations for everything from soured business deals to adverse court decisions. Of course, these suits couldn’t get off the ground without the help of other attorneys. “You wind up with simple cannibalization,” noted Joseph Acton, publisher of Lawyers’ Liability Review. “Lawyers are eating lawyers to maintain their own standard of living.”
The beleaguered legal profession is paying the price: The average legal malpractice premium hit $4,601 in 1994, up 63 percent from 1986. The Attorney’s Liability Assurance Society (ALAS) has hiked its premiums at least 20 percent annually in four of the last five years. What goes around, comes around.
Reprinted by permission from Weekly Marketeer, the publication of the Insurance Marketing & Management Services. (800) 753-4467.
© 1995 John Cooke Fraud Report