Lawyers Mutual, founded in 1977, is the first lawyers mutual insurance company in the country and has provided continuous professional liability coverage to North Carolina lawyers for 40 years. Its reputation for leadership, professionalism and commitment to its attorneys sets the standard for other legal malpractice insurance providers. For more information, call 800.662.8843, follow us on Twitter @LawyersMutualNC, connect on our LinkedIn page, like us on Facebook
Lawyers Mutual congratulates Bert Kemp for receiving the prestigious John B. McMillan Distinguished Service Award from the North Carolina State Bar. Bert is a former Assistant District Attorney in Pitt County and has been with the Pitt County Public Defender’s Office since 2001. He has served as the Chi… Read More
The American Bar Association recently released its 2024 ABA Profile of the Legal Profession. This year’s report focuses on the growing influence and involvement of women in the profession. The report is a compilation of information about lawyers, judges and law students. The report reveals a shift from t… Read More
Turnover is an expensive problem for law firms. The National Association for Law Placement estimates that the cost to replace a departing associate is 1.5 to 2 times the salary of that lawyer. Attrition can also damage client relationships with the firm. Many lawyers and staff who leave law firms cite low mor… Read More
Lawyers Mutual congratulates Clifton T. Barrett, Harry B. Crow, Jr., and Robert Wolf for receiving the John M. McMillan Distinguished Service Award. The award honors current and retired members of the North Carolina State Bar who have shown exemplary service to the profession. Mr. Wolf has been in private prac… Read More
Lawyers often confront legal issues for which they are unable to find a clear answer in statutory or common law. When this happens, we often turn to our colleagues for guidance. We might reach out to a lawyer we know to be an expert in the given practice area. Or we might post an inquiry on one of the many list… Read More
The American Bar Association reports that 4 out of 5 lawyers will receive a malpractice claim at some point during their career. Some practice areas such as residential real estate and personal injury have higher risks than other areas. However, every lawyer should implement risk management practices that reduc… Read More
Whether you are storing your clients’ files in digital format or paper, you have a duty to safeguard the file contents. This means storing the files in a safe location where they will not be damaged or destroyed and where confidentiality will be protected. Most law firms have moved to a paperless file man… Read More
For lawyers, representing friends can seem like a kind thing to do. However, mixing personal relationships with professional responsibilities can result in a variety of complications and ethical dilemmas. While the intention may be good, doing so can compromise your objectivity, professionalism, and even result… Read More
The numbers are in. Missed deadlines in plaintiffs’ personal injury cases is the single largest cause of malpractice claims against lawyers. Interestingly, it is also one of the easiest claims to avoid. Avoidance, though, requires lawyers to implement a variety of risk management procedures. Because… Read More
The path to becoming a lawyer is often paved with high expectations and the promise of a lucrative career. However, the reality for many new associates is far from glamorous. The weight of substantial law school debt is a pervasive issue that casts a long shadow over the early years of legal practice. Accordin… Read More
An elderly client contacts you by telephone and asks you to do a codicil to her Will. She tells you that she wants to disinherit her two children and leave everything to a caretaker. The client shows up at your office with the caretaker. The caretaker insists on speaking for the client and does not want you t… Read More
Lawyers must be constantly vigilant to guard against fraud schemes being perpetrated by third party bad actors. Lawyers face a variety of threats, including counterfeit check scams, wire fraud, phishing scams to access confidential information, ransomware attacks, and real estate seller impersonation fraud. But… Read More
It is estimated that lawyers spend a little more than $1 billion a year on television advertising. That number seems low. According to data from Tunnl, a single law firm, Morgan & Morgan, spent nearly $240 million on television ads in 2023. I saw several of their ads on a recent weekend stay in South Caro… Read More
The origin of the word “vacation” comes from the Latin word vacare, which means “to be empty or free.” Some vacations that I have taken are consistent with this root word. When I travelled to the Everglades to camp on a deserted island, I certainly felt free of work obligations and the t… Read More
Drafting errors are one of the most common causes of legal malpractice claims. Every year, Lawyers Mutual receives multiple claims arising from lawyers’ drafting mistakes. Some of these claims could be described as minor claims, while others result in substantial damages. A minor typographical error can j… Read More
For lawyers handling real estate closings, it’s important to know that seller fraud continues to rise, especially with the upcoming holiday season when distractions are high, and fraudsters are active.
Lawyers Mutual has published previous alerts regarding the new filing requirements under the Corporate Transparency Act (“CTA”) that went into effect January 1, 2024. After reviewing additional resources, we want to emphasize concerns that we have about the risks and increased potential liability for lawyers undertaking the reporting requirements. This is especially true for the continuing reporting requirements after entity formation and initial reporting.