The American Bar Association Standing Committee on Lawyers' Professional Liability has issued its latest in a series of quadrennial studies of the U.S. and Canadian legal malpractice claim trends.
First released in 1985, the newest "Profile of Legal Malpractice Claims: 2016-2019" continues the ABA's effort of tracking legal malpractice claims as reported by participating carriers for 35 years.
This data analysis provides attorneys and insurance industry professionals an in-depth look at both current trends as well as comparisons to historical data collected from the participating legal malpractice insurance carriers.
The study found that claims arising from settlement activities and claims arising from immigration matters saw substantial increases. Notably, the percentage of claims involving large payouts of $2 million or more were also up substantially."
"The committee is grateful to the insurers that provided the data on which the study is based, and is especially grateful to the participating insurers for this study because the data collection period came during the current pandemic that made participation more difficult," said Richard A. Simpson, chair of the standing committee.
"Profile of Legal Malpractice Claims: 2016-2019" costs $119.99 ($95.99 for ABA members) and can be ordered online at shopaba.org or by calling 800-285-2221.
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