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https://www.law.com/thelegalintelligencer/2022/11/14/legal-malpractice-experts-brace-for-influx-of-claims-amid-economic-strain/
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EXERCISE
There’s usually a three- to four-year “lag” behind an economic downturn before plaintiffs start filing claims, said Eileen Garczynski, vice president for the company. Ames & Gough insurance.
November 14, 2022 at 11:05 AM
4 minute reading
What do you want to know
- Experts say legal malpractice claims are expected to increase due to the weak economy, although no significant increase has yet been seen.
- The recent economic downturn led to more claims as claimants sued for failed businesses and less choice of attorneys for their work.
- Rapidly changing regulations and the rise of remote work during the pandemic may also contribute to the increase.
It’s being played by professional criminals.
They warn that the shaky state of the economy could lead to a wave of malpractice claims as lawyers and their clients struggle to cope with the financial burden.
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