A Guide to Succession Planning for Lawyers
Succession planning is a crucial facet of any law firm. As accomplished attorneys approach retirement or an attorney faces a sudden change in the ability to continue to practice law, having a well-conceived plan in place safeguards the continuity of the attorney’s practice and sustains client confidence. In a law firm setting, succession planning comprises […]
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Protecting Your Practice: How Lawyers Can Avoid Wire Transfer Fraud
Wire transfer fraud has become an increasingly alarming issue in the legal industry, putting both clients and law firms at risk. With cybercriminals increasingly targeting lawyers, it’s crucial to understand the methods used in these scams and implement strategies to protect your practice. Here’s how you can safeguard against wire transfer fraud. Understanding Wire Transfer […]
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Avoiding the Unintended Client
Handling the ramifications of and sidestepping situations arising from an unintended client is an ethical obligation. Attorneys are often presented with questions from friends, family members, business acquaintances, or even strangers through firm websites and social media. However, these raise a real risk. Sometimes in these settings, the attorney will fall into an unintended attorney-client […]
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Exciting Updates to Your Payment Options
At OAMIC, we’re committed to providing you with the flexibility you need for your policy premium payments. We’ve made some fantastic changes to our payment options for both new and renewal policies: Flexible Payment Options Endorsements and Policy Changes If you make changes to your policy, such as adding or removing a lawyer, the balance […]
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Claims vs. Bar Complaints: How They Differ
Sometimes in the legal community, the phrases “claim” and “bar complaint” seem to be used interchangeably, or at least in a manner that suggests the two are invariably linked. Although it’s easy to understand why that conclusion may be made, the two are not as related as one might think. What is a bar complaint? […]
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Why the RLI Personal Umbrella Policy Is a Smart Choice
Unexpected events happen more often than we think they do. To protect your financial assets and family, RLI has designed an affordable personal umbrella policy to provide an extra layer of coverage above your basic homeowners, renters or auto policies. The RLI personal umbrella policy is affordable and can be purchased in increments of $1 […]
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Why You Need a Personal Umbrella Policy
Let me start off by saying no one, and certainly no professional, should be without a personal umbrella insurance policy. Although it will not extend over your legal services or business coverage exposure (i.e., workers comp), the benefit of this coverage extending limits above your personal auto and homeowners coverages far outweighs the relatively minimal […]
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5 Simple Things You Can Do Today to Increase Your Firm’s Cyber Protection
This resource has been written by guest author Collin Walke. Mr. Walke leads Hall Estill’s Cybersecurity and Data Privacy Practice. He is CIPP-US and CIPM certified and is a certified artificial intelligence systems auditor. Mr. Walke received his B.A. in philosophy from Oklahoma State University, his J.D., magna cum laude, from Oklahoma City University School of […]
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Client Engagement Letter: ‘Why Not?’
I am still amazed when firms say they don’t use an engagement letter, or don’t use one most of the time, especially on repeat business with a client. My response is usually, “Why not?” After all, the letter can be pretty much boilerplate, so we are not talking about a huge effort in crafting something […]
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How Can an Economic Downturn Impact Your Firm?
Let’s set the stage with a presupposition with which you may or may not agree. It is the natural order of things that when as much was done to stimulate the economy during the pandemic, the bill will come due. I think we are about to pay the piper to some extent. That means rough […]
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