Corporate Transparency Act: Further Clarification

As with any new sweeping federal regulatory scheme, there are kinks to work out and questions which need clarification. This has certainly been true for the Corporate Transparency Act (“CTA”). The Financial Crimes Enforcement Network (“FinCEN”) of the U.S. Department of Treasury has continued to issue new FAQ’s in response to multiple inquiries.   Read More +

Own Your Mistakes But Don’t Fall on Your Sword

If you practice law long enough, you are bound to make a mistake while representing a client. Some mistakes are harmless and immaterial. Other mistakes may be fatal to your client’s case. In between those two extremes are mistakes that cause your client to suffer some negative consequences or create the possibility of negative consequences in the future. What is required of you when you make a mistake depends on the nature and severity of the error. Failure to make appropriate and timely disclosure of errors can result in adverse disciplinary, malpractice and coverage consequences.   Read More +

Common Litigation Errors: Missed Deadlines

Missed deadlines remain the number one source of claims at Lawyers Mutual. Although it appears missed deadlines would be an easy error to avoid, we see it all too frequently. Missed deadlines can include missed statutes of limitations, missed deadlines to obtain alias and pluries summons, missed discovery deadlines, and missed appellate deadlines. Having a good docketing and calendaring system, as well as a routine surrounding deadlines, can help avoid this all-too-common mistake.    Read More +

Do I Need Tail Coverage?

The most frequently asked question we receive in the Underwriting Department is “do I need tail coverage?”  This, of course, leads to questions about what it is, how does it work, and what is the cost. Every attorney’s situation is different, and you should speak with one of our underwriters about your specific situation.  With that said, let’s review the basic concepts of tail coverage to help you answer this question.     Read More +

Duty to Report: Don’t Be an Ostrich

We have all heard the saying, “Don’t bury your head in the sand.”  It was once believed that ostriches buried their heads in the sand to avoid predators. The theory was that ostriches were so simple-minded that they thought that, if they couldn’t see their predators, then their pred… Read More +