Insurers See Rise in Severity of Lawyers’ Malpractice Claims: Ames & Gough

Although the frequency of law firm malpractice claims has begun to level off following a post-recession surge, their severity has continued to increase. A study by insurance broker Ames & Gough finds most leading legal malpractice insurers had a continuing increase in claims in excess of $50 million. Ames & Gough said it polled eight lawyers’ professional liability insurance companies that on a combined basis insure more than 80 percent of the AM Law 100 firms. Four insurers either paid or participated in paying a claim of $100 million or greater; two others had a payment between $50 million — $100 million.