New York Real Estate Lawyer Blog
The American Bar Association just released the latest survey of legal malpractice claims showing some interesting results. For the first time, real estate claims represented the greatest number of claims (20.33%), followed by plaintiffs’ personal injury (15.59%), family law (12.14%), estates, trust and probate (10.67%), and collection and bankruptcy (9.2%). While there are some caveats to the survey, – for example, the survey did not differentiate disciplinary proceedings from actual malpractice claims – the results may provide an illustration of trends in legal practice.
The study revealed that the number of claims payments exceeding $2 million has declined. It is not clear whether this may have been caused by larger firms underreporting larger dollar claims or increased reporting by all insured groups. However, it may show a general trend toward settlement of malpractice claims or juries’ unwillingness to award large payouts at trial.
The survey also showed that although substantive errors still generate the largest portion of claims at 45.07%, the share of claims relating to administrative errors is 30.13% – an all time high. In addition, the number of claims arising out of alleged intentional wrongs has decreased to 10.19% from 13.53% in 2007 – a good sign that the legal profession is evolving in a positive way.
Bottom line: choosing an attorney can be a difficult decision. It is important to find an attorney who is competent, understands the issues of your case and works with you to reach a favorable outcome. Klose & Associates will provide you with a free initial consultation to help determine whether our firm is the right fit for your case.