For the Times You Screw Up

No attorney likes to think about screwing up, or worse, disbarment. We all like to believe that we're practicing some higher form of law, and avoid the sad reality that sometimes, bad things happen to good lawyers.

When those bad things happen, there's something comforting in knowing that you're financially protected. You need to have legal malpractice insurance. I wrote about this need awhile ago, and the importance of what I said earlier stands.

Recently a referring attorney came to me because of some "problem" cases the attorney had dealt with. The attorney explained that because of the mounting needs with the attorney's primary practice area, some clients in the office got "left by the wayside." The attorney wanted me to review the files, and help out.

I took a peek, and fortunately, could save a few. However, for an unfortunate few, the attorney missed important deadlines, which could end up destroying the client's case. In one instance, the attorney's oversight could cost the client over $50,000.

I explained this to the attorney, who informed me that, despite numerous years in practice, the attorney hadn't carried malpractice insurance. I was shocked by the response, even I know that malpractice insurance is a must. Apparently though, the attorney's number of years in practice had proved differently. The attorney had never needed it before, and therefore, didn't believe it's necessary now.

Now, even if the clients wished to sue the attorney for some malpractice, there's little value in that because the attorney has no money, at least to the point of covering the $50,000-plus claims.

The problem my friends, as I've stated before, is that this type of thinking is selfish. You're not doing yourself any favors by not having malpractice insurance. Again, this is the cheapest insurance you'll purchase, for the biggest value (mine is about $700 per year).

Having malpractice is especially important if you're in an office-sharing relationship or a solo or small firm. Your "partners" (because that's how clients view them) will screw up their cases, and despite the fact you've never handled the case or met the client, they'll likely include your name in the grievance/lawsuit. (Don't think you it won't happen either, because it's what I would do if I sued your butt for malpractice - setting aside other particular issues). Having insurance will afford some decorum and security in these solemn situations.

If you can afford to hire an attorney to defend and represent you in these matters, then, by all means, keep up your insane behavior of practicing without insurance. However, if you're like me, and you believe that your clients deserve something if you screw up, then go get your insurance. Get it now.